In re Richter's Estate
U.S. Circuit Court for the District of Iowa
[Appeal from the district court of the United States for the district of Iowa.] The following are the facts as they appear from tne evidence in the case: Richter was adjudged a bankrupt on his own petition, filed on the 19th day of October, 1868. Crag'n is the assignee in bankruptcy. The present controversy is between the assignee and Messrs.
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[Appeal from the district court of the United States for the district of Iowa.] The following are the facts as they appear from tne evidence in the case: Richter was adjudged a bankrupt on his own petition, filed on the 19th day of October, 1868. Crag'n is the assignee in bankruptcy. The present controversy is between the assignee and Messrs. Greenwald & Co., who are by far the largest creditors of the bankrupt, and to whom the latter, three days before filing his petition to be adjudicated a bankrupt, sold and transferred his stock of goods, which embraced, as appears from the inventory,…
1Opinion of the Court
DILLON, Circuit Judge.
1. As to the Motion of Greenwald & Co. The cardinal idea of the bankrupt act isanindiscriminating distribution of all of the effects of the debtor, to all of his creditors. This legislation is essentially founded upon the doctrine that equality is equity. When a debtor finds himself embarrassed, experience has shown that there arises in his mind a strong temptation, either to conceal his property, or to distribute it as his favor or *750his enmity, or both may dictate. When creditors perceive their debtor's embarrassment, concert of action for the mutual benefit of…
2Cases cited2 opinions
- Secor v. . SturgisNew York Court of Appeals · 1858
- Sweeny v. DaughertySupreme Court of Iowa · 1867
3Cited by9 opinions
- Keppel v. Tiffin Savings BankSupreme Court of the United States · 1905
- In re KellerDistrict Court, N.D. Iowa · 1901
- In re Rogers Milling Co.District Court, W.D. Arkansas · 1900
- In re SoldoskyDistrict Court, D. Minnesota · 1901
- In re Southern Overalls Mfg. Co.District Court, N.D. Georgia · 1901
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