In re Southern Pharmaceutical Co.
District Court, E.D. Tennessee
In Bankruptcy. On petition of H. B. Alexander and others to review an order of the refereee disallowing their claim on notes of the bankrupt. Order reversed and proof of claim returned to referee for further proceedings. In April, 1917, the Southern Pharmaceutical Co., for the purpose of raising money, executed two notes for $10,000.00 each, secured by the pledge of collateral stock, and endorsed by its individual stockholders.
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In Bankruptcy. On petition of H. B. Alexander and others to review an order of the refereee disallowing their claim on notes of the bankrupt. Order reversed and proof of claim returned to referee for further proceedings. In April, 1917, the Southern Pharmaceutical Co., for the purpose of raising money, executed two notes for $10,000.00 each, secured by the pledge of collateral stock, and endorsed by its individual stockholders. These notes were negotiated and became the property of the petitioners. In August, 1917, the Pharmaceutical Co. filed its voluntary petition in bankruptcy and was…
1Opinion of the Court
SANFORD, District Judge.
[1] 1. If the bankrupt’s notes on which the petitioners’ claim is based were liquidated claims at the time of the adjudication, their claim thereon should have been disallowed because not proved within one year after the adjudication, as required by section' 57n of the Bankruptcy Act (Comp. St. § 9641); the provisions therein for subsequent proof relating only to unliquidated claims which have been liquidated by litigation.
[2, 3] 2. I assume, for present purposes, that the fact- that these notes contained provisions for reasonable attorney’s fees did not prevent them…
2Cases cited25 opinions
- United States Fidelity & Guaranty Co. v. BraySupreme Court of the United States · 1912
- Dunbar v. DunbarSupreme Court of the United States · 1903
- Keppel v. Tiffin Savings BankSupreme Court of the United States · 1905
- Page v. RogersSupreme Court of the United States · 1909
- Ward v. First Nat. Bank of IrontonCourt of Appeals for the Sixth Circuit · 1913
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3Cited by15 opinions
- Hardt v. KirkpatrickCourt of Appeals for the Ninth Circuit · 1937
- Carroll Electric Co. v. SnellingCourt of Appeals for the First Circuit · 1932
- In re Dayton Coal & Iron Co.District Court, E.D. Tennessee · 1922
- First Trust Co. v. BaylorCourt of Appeals for the Eighth Circuit · 1924
- In re GutchessDistrict Court, N.D. New York · 1929
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