People's Bank of East Orange v. Fancher
New York Supreme Court
Action by the People’s Bank of Bast Orange against Charles H. Fancher, as assignee, the Irving National Bank, Charles F. Ma-ttlage, •Charles Burkhalter, and John H. Burkhalter, to declare void an ássignment to defendant Fancher for benefit of creditors, on the ground of unlawful preferences. Also 17 like actions by the Pacific Bank of New York and other creditors against the same defendants. Plaintiffs moved for an injunction and the appointment of a receiver. Granted.
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Action by the People’s Bank of Bast Orange against Charles H. Fancher, as assignee, the Irving National Bank, Charles F. Ma-ttlage, •Charles Burkhalter, and John H. Burkhalter, to declare void an ássignment to defendant Fancher for benefit of creditors, on the ground of unlawful preferences. Also 17 like actions by the Pacific Bank of New York and other creditors against the same defendants. Plaintiffs moved for an injunction and the appointment of a receiver. Granted. The defendants Charles Burkhalter and John H. Burkhalter made a general assignment for the benefit of creditors to Charles H.…
1Opinion of the CourtIngraham, J.
It has been most strenuously urged by the defendants in opposing this motion that the appointment of a receiver would seriously reflect upon the integrity of Mr. Fancher, the assignee, and upon the bank of which he is president, and that the court should hesitate before granting the motion when the consequences to him and the bank would be so serious. When Mr. Fancher was informed that the firm of Burkhalter & Co. were in trouble, and would have to make an assignment, his duty as president of the bank was to endeavor to protect the institution which had intrusted him with the management of…
2Cases cited3 opinions
- Kitchen v. . LoweryNew York Court of Appeals · 1891
- Manley v. LeggettNew York Supreme Court · 1891
- Abegg v. BishopNew York Supreme Court · 1892
3Cited by2 opinions
- Hildreth v. BurkhalterNew York Supreme Court · 1892
- In re the Assignment of ReillyAppellate Division of the Supreme Court of the State of New York · 1918