In re Ennis
Court of Appeals for the Second Circuit
Petition to Revise and Appeal from the District Court of the United States for the Southern District of New York. In tlie matter of Thomas A. Ennis and Charles E. Stoppani, bankrupts. Walter Bamford petitions to revise certain orders of the District Court, and. also appeals from said orders. I. Statement of Facts Concerning the Claim of the Appellant Bamford. ' The bankrupts were stockbrokers, doing business in New York City.
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Petition to Revise and Appeal from the District Court of the United States for the Southern District of New York. In tlie matter of Thomas A. Ennis and Charles E. Stoppani, bankrupts. Walter Bamford petitions to revise certain orders of the District Court, and. also appeals from said orders. I. Statement of Facts Concerning the Claim of the Appellant Bamford. ' The bankrupts were stockbrokers, doing business in New York City. The appellant was a customer of the bankrupts, who liad deposited certain securities with them as collateral for his speculative account, and who, after the bankruptcy,…
1Opinion of the CourtNoyes, Circuit Judge
(after stating the facts as above). The question in this case is between claimants who have identified their securities among the collateral pledged by the bankrupts to the Mechanics’ Bank. There are not enough securities or proceeds to satisfy all demands, and there must be either a pro rata distribution, or some claimants must have priority over others.
[1] The granting of priority necessarily imposes upon certain claimants the burden of contributing for the benefit of others, and should only be accorded in the case of superior equities. But superior equities undoubtedly exist in favor of…
2Cases cited3 opinions
- West v. W. A. McLaughlin & Co.'s TrusteeCourt of Appeals for the Sixth Circuit · 1908
- In re T. A. McIntyre & Co.Court of Appeals for the Second Circuit · 1909
- In re BrownCourt of Appeals for the Second Circuit · 1910
3Cited by23 opinions
- Commonwealth v. HullMassachusetts Supreme Judicial Court · 1937
- In re J. C. Wilson & Co.District Court, S.D. New York · 1917
- In re TooleCourt of Appeals for the Second Circuit · 1921
- Phillips. v. BakerCourt of Appeals for the Fifth Circuit · 1948
- In re Walter J. Schmidt & Co.District Court, S.D. New York · 1923
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