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eBook details

• Title: Humber v. Bankers Trust Co.
• Author : Sixth Circuit Circuit Court Of Appeals
• Release Date : January 13, 1934
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 52 KB

Description

Humber filed voluntary petition and was adjudged bankrupt on August 31, 1932. On October 21, 1932, Bankers Trust Company, receiver of Humber, filed its petition to vacate the adjudication and dismiss the voluntary petition for want of jurisdiction. This petition recited the recovery in the state court by two creditors of a deficiency decree against Humber in 1927, on which execution was thereafter returned unsatisfied, and set up subsequent proceedings in the state court to reach and subject assets of the bankrupt, in the course of which said receiver was appointed in October, 1930. In substance the ground of the petition was that due to lapse of time, transfers of and liens on the bankrupts property were immune from attack in bankruptcy, and the subject-matter of the proceeding was in the possession and within the exclusive jurisdiction of the state court. On November 15, 1932, after hearing, the district court vacated the adjudication of bankruptcy and by the same order dismissed Humbers petition. The appeal which followed was allowed by the District Court only. In Michigan Garage & Accessory Co. v. Drury, 31 F.2d 434, this court dealt with such an appeal which set aside the adjudication and dismissed the voluntary petition and held that it would properly lie under section 25a of the Bankruptcy Act (11 U.S.C. § 48 (a), 11 USCA § 48 (a). The first headnote in Vallely v. Northern Fire & Marine Ins. Co., 254 U.S. 348, 41 S. Ct. 116, 65 L. Ed. 297, reads:

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