Blair v. Clayton Enterprise Co.

Citations

• 9 Del. Ch. 95
• 77 A. 740
• 1910 Del. Ch. LEXIS 13

Syllabus

<p>When the fund for distribution by a receiver among the creditors of an insolvent corporation is insufficient to pay all the creditors in full, including interest to the date of the order for distribution, and there are no liens entitled to priority of payment, Held.</p> <p>(1) All claims are on the same footing, whether based on bonds, promissory notes or book accounts.</p> <p>(2) Interest will not be allowed unless claimed in the statement filed.</p> <p>(3) Claims based on instruments bearing interest according to the terms thereof arc on the same footing with other claims as to interest.</p> <p>(4) Interest is allowed only to the time of the appointment of the receiver.</p>