Prudential Trust Co.'s Assignment
Supreme Court of Pennsylvania
Appeal, No. 11, Oct. T., 1909, by John C. Cottingham et al., executors of the last will and testament of Francis Shubert, deceased, from decree of C. P. No. 1, Allegheny Co., Sept. T., 1904, No. 177, dismissing exceptions to auditor’s report in the matter of the assigned estate of the Prudential Trust Company. Exceptions to .report of J. C. Boyer, Esq., auditor. Before Brown, P. J. The facts are stated in the opinion of the Supreme Court.
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Appeal, No. 11, Oct. T., 1909, by John C. Cottingham et al., executors of the last will and testament of Francis Shubert, deceased, from decree of C. P. No. 1, Allegheny Co., Sept. T., 1904, No. 177, dismissing exceptions to auditor’s report in the matter of the assigned estate of the Prudential Trust Company. Exceptions to .report of J. C. Boyer, Esq., auditor. Before Brown, P. J. The facts are stated in the opinion of the Supreme Court. Errors assigned were in dismissing exceptions to auditor’s report.
1Opinion of the Court
Opinion by
Mr. Justice Elicin,
The question to be determined on this appeal is whether the depositors are entitled to preference over other general creditors in the distribution of the fund in the hands of the assignee of the insolvent trust company. It may be stated as a general principle that in the absence of legislation preferring certain creditors, no such preference exists. The legislature has passed many acts making a preference in the distribution of estates among creditors, this on the ground of public policy, or to protect the natural and superior equities of parties, but the burden…
2Cases cited10 opinions
- Miller's AppealSupreme Court of Pennsylvania · 1860
- Commercial National Bank v. HenningerSupreme Court of Pennsylvania · 1884
- Dean & Son's AppealSupreme Court of Pennsylvania · 1881
- Bank of Northern Liberties v. Jones & ColeSupreme Court of Pennsylvania · 1862
- Patten's AppealSupreme Court of Pennsylvania · 1863
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3Cited by29 opinions
- United States v. Alfred Monostra, IIICourt of Appeals for the Third Circuit · 1997
- In Re Mid America Co.District Court, S.D. Illinois · 1939
- Thomas v. First Nat. Bank of ScrantonSupreme Court of Pennsylvania · 1954
- United States v. Thomas Henry Mowry MikeCourt of Appeals for the Third Circuit · 1994
- Gallagher, Admr. v. RoganSupreme Court of Pennsylvania · 1936
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