Greathouse v. Millard

CLAY, Commissioner.

This is a receivership proceeding in which it was adjudged that appellant obtained approximately $11,000 as a preference from an insolvent debtor and that said sum must be returned for the benefit of all the insolvent’s creditors as provided by KRS 378.060.

Appellant for some time had financed the purchase of new automobiles under an arrangement known as “floor planning” for the Thompson-Gordon Motors Company. Under this arrangement appellant would pay for the new cars, the Motors Company would execute demand notes covering the purchase prices, and would execute chattel…