Hollins v. Brierfield Coal & Iron Co.
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE MIDDLE DISTRICT OF ALABAMA. The facts in this case were as follows: The Brierfield Coal and Iron Company was incorporated under the laws of Alabama, May 4, 1882. On September 1, 1882, a conveyance was made by the company to Preston B. Plumb, as trustee, to secure an issue of $500,000 in bonds.
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APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE MIDDLE DISTRICT OF ALABAMA. The facts in this case were as follows: The Brierfield Coal and Iron Company was incorporated under the laws of Alabama, May 4, 1882. On September 1, 1882, a conveyance was made by the company to Preston B. Plumb, as trustee, to secure an issue of $500,000 in bonds. On July 25, 1887, the trustee* Plumb, requested a further conveyance and assurance, pursuant to a. covenant in the deed of September, 1882, which further conveyance was executed by the company on Jul’y 29, 1887. On August 1 he demanded the…
1Opinion of the Court
Mr. Justice Brewer,
after stating the case, delivered the opinion of the.court.
The plaintiffs were simple' contract creditors of the company ; their claims had not been reduced to judgment, and they had no express lien, by- mortgage, trust deed, or other wise. It is the settled law of this court that such creditors cannot come into a court of equity to obtain the seizure of the property of their debtor, and its application to the satisfaction' of their claims; and this, notwithstanding a statute of the State may authorize such a proceeding in the courts of the State. The line of demarcation…
2Cases cited16 opinions
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