Ballingall v. Hunsberger

Citations

• 16 Pa. Super. 117
• 1901 Pa. Super. LEXIS 26

Syllabus

<p>Debtor and creditor — Protection of collateral — Counsel fee.</p> <p>Where a creditor holds bonds of a corporation as collateral for a debt, and the corporation becomes insolvent, it is the duty of the creditor to protect the collateral; and if he employs counsel to present the bonds to an auditor appointed to distribute the assets of the corporation, and to secure the dividend to which the bonds are entitled, he is entitled to deduct a reasonable counsel fee from the amount received over and above the debt for which the bonds were given as collateral security.</p>