Spinney v. Portsmouth Hosiery Co.
Superior Court of New Hampshire
The trustee disclosed that said Portsmouth Hosiery Company, on &c., made an assignment of all their property to said Emery and J. Nesmith, of Lowell, and.
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The trustee disclosed that said Portsmouth Hosiery Company, on &c., made an assignment of all their property to said Emery and J. Nesmith, of Lowell, and. W. Hastings, of Charlestown, in Massachusetts, in trust to convert the same into money, and then to distribute and pay the net proceeds thereof among and to all the creditors of the corporation, in equal proportion to their respective claims, without preference, and the surplus, if any, to the corporation or its assigns — and constituted the trustees attorneys of the corporation, irrevocable and with full powers. The trustees accept the…
1Opinion of the CourtBell, J.
This disclosure admits §3,000 in the hands of the trustee. He must of course be charged for it, unless he clearly discharges himself. Wright v. Ford, 5 N. H. Rep. 178; Giddings v. Coleman, 12 N. H. Rep. 156. This he has not done. He says the property of the principal debtor was assigned to himself and the other assignees, in *15trust for the payment of the creditors; and as to any balance, to be repaid to the defendants. The trustee does not pretend to know or state that there are any creditors of the corporation, or that this money, or any part of it, will be required to pay any of its debts.…
2Cases cited6 opinions
- Ingraham v. GeyerMassachusetts Supreme Judicial Court · 1816
- Monell v. MonellNew York Court of Chancery · 1821
- Giddings v. ColemanSuperior Court of New Hampshire · 1841
- Leeds v. SaywardSuperior Court of New Hampshire · 1833
- Wright v. FoordSuperior Court of New Hampshire · 1830
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