Hanchett v. Waterbury

Citations

• 115 Ill. 220

Syllabus

<p>1. Assignment fob the benefit of obeditobs — equality among creditors. By the statute on the subject, all voluntary assignments for the benefit of creditors are placed, on the same footing, and all preferences among creditors not having liens on the property assigned, are made void, and the effects of the assignor must in all cases be distributed pro rata among the creditors by the county court, as directed in such act.</p> <p>2. Same—;jurisdiction of county court. Under the several provisions of the act of May 22, 1877, entitled “An act concerning voluntary assignments, and conferring jurisdiction therein upon comity courts, ” a new and special jurisdiction is conferred upon county courts over the subject matter of such assignments, the exercise of which can not be interfered with or embarrassed by process from other courts. Such jurisdiction attaches by the making, filing and recording of the assignment in the mode prescribed in the act.</p> <p>3. Under that act the county court, when exercising the powers therein conferred, is in effect an insolvency court, and the same general principles applicable to such courts must be applied.</p> <p>4. Same—remedy of adverse claimant—trial of right of property. After the county court has once acquired jurisdiction of the estate of an assigning debtor, he and the assignee, and all other persons having an interest in or upon the estate, are subject alike to the judgment of that court; and a claimant of any property assigned for the benefit of creditors will not be allowed to take the same from the assignee by writ of replevin from another court, but he may present his claims to the county court, which is authorized to call a jury to try the right of property.</p>