Burkhart v. German-American Bank

Citations

• 137 F. 958

Syllabus

<p>Bankruptcy—Banks—Partnership.</p> <p>Bankr. Act July 1, 1898, c. 541, § 1, cl. 6, 30 Stat. 544 [U. S. Comp. St. 1901, p. 34191, declares that “corporations” shall mean all bodies having any of the powers and privileges of private corporations not possessed by individuals or partnerships, and shall include limited or other partnership associations organized under laws making the capital subscribed alone responsible for the debts of the association. Section 4 declares that private bankers, but not national banks or banks incorporated under state or territorial laws, may be adjudged involuntary bankrupts; and section 5 (30 Stat. 547 [U. S. Comp. St. 1901, p. 3424]) provides that a partnership during the continuance of its business or after its dissolution and before settlement may be adjudged a bankrupt. Held, that where an association of individuals was formed to carry on the business of a private bank, as authorized by Daning’s Rev. Laws Ohio, § 4891 et seq. (Bates’ Ami. St. § 3170-1 et seq.) but was not incorporated, it was a partnership, and as such subject to be adjudged a bankrupt, though it was entitled to exercise some of the attributes of a corporation.</p> <p>[Ed. Note.—For cases in point, see vol. 6, Cent. Dig. Bankruptcy, §§ 17, 21.</p> <p>What persons are subject to bankruptcy law, see note to Mattoon Nat. Bank v. First Nat. Bank, 42 C. C. A. 4.]</p>