Blumenthal v. Einstein
New York Supreme Court
Appeal from judgment on report of referee. Action by Joseph Blumenthal, as receiver of Morris Schneider and Abraham Schneider, formerly of the firm of M. & A. Schneider, against Benjamin F. Einstein, Herman Myers, and Henry Rice, as trustees, to recover a dividend declared by defendants, managers of what is called the “Backer Trust.” There was a judgment in favor of plaintiff, and defendants appeal. Affirmed.
1Opinion of the CourtFolleto, J.
On August 3, 1891, Abraham Backer became insolvent, and made a general assignment for the benefit of creditors-to Benjamin F. Einstein. Subsequently, the general assignment was superseded by an agreement entered into between Abraham executed by 97 per cent, of the creditors, so it would take effect' Backer, his wife, his assignee, all of his creditors, and three trustees.. By the agreement, all of Backer’s property was conveyed and assigned to the three trustees, who undertook to convert it into money,, and distribute the avails pro rata among Backer’s creditors. This agreement is dated…
2Cases cited3 opinions
- Elwood v. DeifendorfNew York Supreme Court · 1848
- Bonney v. SeelyNew York Supreme Court · 1829
- Powell v. SmithNew York Supreme Court · 1811
3Cited by1 opinion
- Kilby v. First National BankNew York Supreme Court · 1900