I. Trager Co. v. Cavaroc Co.

Citations

• 123 La. 319
• 48 So. 949
• 1909 La. LEXIS 705

Syllabus

<p>1. Bankruptcy (§ 20*) — Lease — Lien fob Bent — Validity Against Trustee — Beceiver in State Court.</p> <p>The appointment, under a state law, in a state court, of a receiver to a corporation, is valid, and the administration of the receiver continues to be valid until the jurisdiction of the court is ousted by the filing of a petition to force the corporation into involuntary bankruptcy, followed by the adjudication in bankruptcy, and where a lessor has proceeded, in the receivership, to enforce Ms claim and lien (arising out of a contract of lease, antedating by more than four months the filing of the petition in bankruptcy) for rent, not yet due, against the proceeds in the hands of the receiver of the property found on the leased premises, the jurisdiction of the state court, quoad such claim and lien is not ousted by the filing of such petition, nor does the bankrupt law dispossess the state court, of the property upon which the lien bears, though there was no rent actually due at the time that the lessee was adjudicated a bankrupt.</p> <p>[Ed. Note. — For other cases, see Bankruptcy, Dec. Dig. § 20.*]</p> <p>2. Bankruptcy (§ 20*) —Effect upon Proceedings in State Court.</p> <p>The state court having appointed a receiver to a corporation, and the receiver having come into possession of a fund derived mainly from the sale of movables found on premises which had been leased to the corporation, and the lessor having, asserted his claim, lien, and right of pledge against such movables and the proceeds thereof, and the receivership then taking the form of “winding up the affairs of an insolvent corporation,” which was followed by a petition for involuntary bankruptcy, such court should do no more, with respect to the fund in its possession, than determine, as between the claim of the lessor and claims arising out of the receivership, the question of preference, and enforce the lien and right of pledge of the lessor, after which the balance of the fund, if any, sh