In re Antigo Screen Door Co.

Citations

• 123 F. 249
• 59 C.C.A. 248
• 1903 U.S. App. LEXIS 3985

Syllabus

<p>1. Courts—Jurisdiction—Disposition op Fund in Court.</p> <p>Any court having in its possession a fund about which there is a controversy has inherent jurisdiction and power to determine such controversy, to the exclusion of every other court.</p> <p>2. Bankruptcy—Jurisdiction op Court—Mode op Review.</p> <p>Where a mortgagee, in possession of property of a bankrupt, surrenders it to the trustee, reserving the right to assert his lien against the-proceeds, such proceeds are held by the court as assets of the bankrupt estate, and in dealing with the fund it acts as a court of bankruptcy, and its action on the claim of the mortgagee is subject to review in matter of law by the Circuit Court of Appeals on petition therefor.</p> <p>¶ 1. Jurisdiction as affected by possession of the subject-matter, see note to Adams v. Trust Co., 15 C. C. A. 6.</p> <p>8. Same—Validity of Chattel Mortgages—Following Law of State.</p> <p>In determining the validity of chattel mortgages, a court of bankruptcy is governed by the settled law of the state in which they were given.</p> <p>4 Same—Review in Matter of Law.</p> <p>On a petition for review in matter of law, the Circuit Court of Appeals is not at liberty to challenge the facts, or an inference of fact, found by the court below.</p> <p>5. Same—Validity of Chattel Mortgages—Right of Trustee to Attack.</p> <p>Under the law of Wisconsin, as settled by its Supreme Court, that a chattel mortgage is rendered fraudulent in fact by an agreement giving the mortgagor the right to make sale of the mortgaged property for his own benefit, and voidable by general creditors or a general assignee of the mortgagor, notwithstanding possession taken by the mortgagee, a trustee in bankruptcy may assert the right of creditors to the property as against the mortgagee.</p> <p>6. Same—Failure to Record.</p> <p>Where, as under the law of Wisconsin, the failure of a chattel mortgagee to file his mortgage or take possession of the property, without fraud or c