Corn Exchange Bk. of Chicago v. . Blye
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court, in the first judicial department, made the first Monday of May, 1S85, • which reversed an order of Special Term vacating and setting aside a requisition issued herein to the sheriff of Orange county, directing him to take into his possession the property specified in the complaint.
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Appeal from order of the General Term of the Supreme Court, in the first judicial department, made the first Monday of May, 1S85, • which reversed an order of Special Term vacating and setting aside a requisition issued herein to the sheriff of Orange county, directing him to take into his possession the property specified in the complaint. (Reported below, 37 Hun, 473.) This action was brought against plaintiff as receiver of the Middletown National Bank to recover possession of certain securities, which the complaint alleged were pledged to it as security for a draft, which draft was…
1Opinion of the CourtFinch, J.
The sole question in this case is whether section 5242 of the United States Revised Statutes prohibits the requisition issued to the sheriff and protects the receiver in his possession. The Bank of Middletown became insolvent and the defendant was appointed its receiver under the Federal law. That appointment vested in him all the assets of the bank to be converted into money and distributed among the creditors. The object sought.to be accomplished is the distribution of those assets fairly and without preferences, and that has been held to be the aim and purpose of the section in question.…
2Cases cited2 opinions
- Rosenblatt v. JohnstonSupreme Court of the United States · 1882
- Robinson v. . National Bank of NewberneNew York Court of Appeals · 1880
3Cited by17 opinions
- Lewis v. DunneCalifornia Supreme Court · 1901
- In re the Estate of KrugerNew York Surrogate's Court · 1931
- Arnot v. BinghamNew York Supreme Court · 1890
- Van Wagoner v. BuckleyAppellate Division of the Supreme Court of the State of New York · 1912
- Elmira Savings Bank v. DavisNew York Court of Appeals · 1894
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