Horst v. Pake
Supreme Court of Alabama
Appeal from Mobile Law and Equity Court. Heard before Hon. Saffold Berney. Henry B. Pake was made assignee for the benefit of creditors of an insolvent bank, and was removed from the administration of the trust and Harry A. Horst was substituted as trustee.
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Appeal from Mobile Law and Equity Court. Heard before Hon. Saffold Berney. Henry B. Pake was made assignee for the benefit of creditors of an insolvent bank, and was removed from the administration of the trust and Harry A. Horst was substituted as trustee. Upon the settlement between the trustees, the Chancellor sustained exceptions to the report of the Register denying the original trustee or assignee any compensation and the substituted trustee and some of the creditors appeal.
1Opinion of the CourtSayre, J.
On March 20, 1911, the Leinkauf Banking Company, a corporation under the laws of this state, executed to appellee, Pake, a deed of general assignment for the benefit of its creditors. Three days later the assignee filed in the law and equity court of Mobile his bill for the administration of the trust, and on the same day the court made an order assuming jurisdiction. On January 27, 1913, after distribution had been made to preferred creditors, that is, to depositors who had not stipulated for interest, and after a reference had been held to hear and pass upon an account filed by the…
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