In re Waddell-Entz Co.
Supreme Court of Connecticut
Application by the receiver of the Waddell-Entz Company for instructions as to his duty in respect to the payment of a dividend upon certain claims presented ; brought to the Superior Court in Fairfield County and reserved by that court, Elmer, J., upon a finding of facts, for the consideration and advice of this court.
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Application by the receiver of the Waddell-Entz Company for instructions as to his duty in respect to the payment of a dividend upon certain claims presented ; brought to the Superior Court in Fairfield County and reserved by that court, Elmer, J., upon a finding of facts, for the consideration and advice of this court. The trial court made the following finding of facts:— “ The receiver of the above mentioned company was appointed in this action on February 10th, 1894, and an order subsequently made limited the time for presentation of claims against it to the receiver. Within the time so…
1Opinion of the CourtHamersley, J.
When the law takes possession of the property of an insolvent debtor, that property becomes a trust fund to be divided among such creditors as may present their claims in the prescribed manner; and the respective interests of the creditors in the fund are, as between themselves, of an equitable nature, to be determined on a basis of equality. This is true of the property of an insolvent corporation when it is taken possession of by a receiver under the statute providing for the winding up of a corporation, as truly as when it is taken possession of by a trustee under the statute regulating…
2Cases cited6 opinions
- People v. E. Remington & SonsNew York Court of Appeals · 1890
- New Haven Wire Co. CasesSupreme Court of Connecticut · 1888
- Findlay v. HosmerSupreme Court of Connecticut · 1817
- Third National Bank v. Eastern RailroadMassachusetts Supreme Judicial Court · 1877
- Mechanics' & Farmers' Bank of Albany: Appeal from ProbateSupreme Court of Connecticut · 1862
1 more not listed; retrieve them via the Exa API.
3Cited by36 opinions
- Dibert v. D'ArcySupreme Court of Missouri · 1913
- Anglo-California Trust Co. v. Oakland RailwaysCalifornia Supreme Court · 1924
- Bassett v. City Bank & Trust Co.Supreme Court of Connecticut · 1932
- New Haven Savings Bank v. WarnerSupreme Court of Connecticut · 1942
- Dies v. Wilson County BankTennessee Supreme Court · 1913
31 more not listed; retrieve them via the Exa API.