In re Simpson
Appellate Division of the Supreme Court of the State of New York
Appeal from judgment on report of referee. Proceedings on objections filed by Albert Ivins Croll, Schenectady Bank, and Jonathan Levi, in the matter of the final accounting of Angel J. Simpson as assignee of the Empire State Knitting Company for the benefit of creditors. From the order overruling the objections, the objectors appeal.
1Opinion of the CourtHerrick, J.
The most serious contention made upon this appeal is against the allowance and payment by the receiver of a dividend to the creditor Marks upon the whole amount of his bond and mortgage, notwithstanding he had, after the appointment of the receiver, and the sale of the real estate by him, foreclosed his mortgage, and obtained judgment for a deficiency. The corporation having assumed the payment of the mortgage when it took the conveyance of the property, thereby became the debtor of the mortgagee, and said mortgagee could enforce the payment of the mortgage debt by such corporation. Burr v.…
2Cases cited12 opinions
- Burr v. . BeersNew York Court of Appeals · 1861
- Chemical Nat. Bank v. ArmstrongCourt of Appeals for the Sixth Circuit · 1893
- People v. E. Remington & SonsNew York Court of Appeals · 1890
- Thorp v. . the Keokuk Coal Co.New York Court of Appeals · 1872
- Schley v. . FryerNew York Court of Appeals · 1885
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