Irving Trust Co. v. Chase Nat. Bank of New York

AUGUSTUS N. HAND, Circuit Judge.

This is a suit by the trustee in bankruptcy of Robbins & Prokeseh, Inc., against the Chase Bank and Bank of Manhattan Trust Company to recover payments made by Robbins & Prokeseh, Inc., in contravention of section 15' of the Stock Corporation Law of the state of New York (Consol. Laws, c. 59).

It is necessary for the claimant to establish that:(1) The insolvency of Robbins & Prokeseh, Inc., existed or was imminent at the times when it made the payments.(2) The payments resulted in a preference.(3) The banks, at the time when the payments were received, had…