Van Iderstine v. National Discount Co.
Supreme Court of the United States
APPEAL FROM THE CIBCUIT COUBT OP APPEALS FOB THE SECOND CIBCUIT. The facts, which involve the determination of whether a payment by a bankrupt constituted an illegal preference, are stated in the opinion. At the' time of the transfers the bankrupts were insolvent, and knew it..
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APPEAL FROM THE CIBCUIT COUBT OP APPEALS FOB THE SECOND CIBCUIT. The facts, which involve the determination of whether a payment by a bankrupt constituted an illegal preference, are stated in the opinion. At the' time of the transfers the bankrupts were insolvent, and knew it.. The bankrupts’ dealings with the appellee were part of a scheme by the bankrupts to convert their slow assets into cash, with. part of the' amount received to-preferred favored creditors, and to appropriate the balance to their own use, to the exclusion of their remaining creditors. Evidence concerning contemporaneous…
1Opinion of the CourtJustice Lamar
Van Iderstine, Trustee of Fellerman & Son, brought suit in the United States District Court for the Southern District of New York to set aside a transfer of accounts made to the National Discount Company as security for a loan, alleging that it was a fraudulent conveyance, and that the lending company was charged with, notice of Feller- man’s intent to defraud. It is unnecessary to state the facts further than to say that Fellerman and his firm were insolvent, though rated at $50,000 to $75,000 in the Commercial Reports. Having been recommended by another merchant, he applied tp the Discount…
2Cases cited2 opinions
- Coder v. ArtsSupreme Court of the United States · 1909
- National Bank of Newport v. National Herkimer County Bank of Little FallsSupreme Court of the United States · 1912
3Cited by93 opinions
- Dean v. DavisSupreme Court of the United States · 1917
- Dubrowsky v. Estate of Perlbinder (In Re Dubrowsky)District Court, E.D. New York · 2000
- Carson v. Federal Reserve BankNew York Court of Appeals · 1930
- Meoli v. Huntington National Bank (In Re Teleservices Group, Inc.)United States Bankruptcy Court, W.D. Michigan · 2012
- Greey v. DockendorffSupreme Court of the United States · 1913
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