Benedict v. Ratner

The Hub Carpet Company was adjudicated- bankrupt by the federal court for southern New York in involuntary proceedings commenced September 26, 1921. Benedict, who was appointed receiver and later trustee, collected the book accounts of the company. Ratner filed in that court a petition in equity praying that the amounts, so collected be paid over to him. He claimed them under a writing given May 23, 1921 — four months .and three days before the commencement of the bankruptcy proceedings. By it the company purported to assign to him, as collateral for certain loans, all accounts present and…