In re Niagara Lead & Battery Co.
District Court, W.D. New York
In Bankruptcy. In the matter of bankruptcy proceedings of the Niagara Bead & Battery Company.. On review of a referee’s decision awarding certain after-acquired property to the mortgagee.
1Opinion of the Court
HAZEL, District Judge.
The question for determination is whether certain after-acquired personal property used in the business of the defendant, and consisting of machinery, tools, and office fittings, passes under an after-acquired property clause in the mortgage to secure the payment of a bond issue, so that such property can be held by the mortgagee as against the trustee in bankruptcy, who represents the general creditors. The evidence shows that the proceeds of the sale of the bonds were intermingled with other funds — funds realized from sales by the bankrupt of manufactured articles —…
2Cases cited8 opinions
- MacDonnell v. Buffalo Loan, Trust & Safe Deposit Co.New York Court of Appeals · 1908
- Zartman v. First National BankNew York Court of Appeals · 1907
- Rochester Distilling Co. v. RaseyNew York Court of Appeals · 1894
- Central Trust Co. v. KneelandSupreme Court of the United States · 1891
- In re Marine Construction & Dry Dock Co.Court of Appeals for the Second Circuit · 1906
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