Hall v. Crane Bros. Manufacturing Co.

Citations

• 87 Ill. 283

Syllabus

<p>Trust—when, created. Where, by consent of his creditors, a failing debtor was allowed to continue Ms business, under the supervision of a committee of the creditors, for a limited time, and a cashier or clerk was 'also appointed to receive and pay out money, the business to be done in the debtor’s name, as before, until the state of Ms affairs could be ascertained, and the property of the debtor never came into the possession of the committee, who merely acted in an advisory manner', and the cashier as a clerk, it was held, that the committee and cashier were not trustees as to the property of the debtor for the benefit of creditors, and consequently were not liable to such creditors.</p>