In re Hartwell Oil Mills

Citations

• 165 F. 555
• 1908 U.S. Dist. LEXIS 176

Syllabus

<p>Bankruptcy (§ 60*) —Involuntary Proceedings — Acts of Bankruptcy — General Assignment — Corporations—“‘General Assignment.”</p> <p>A resolution adopted by the stockholders of a corporation, authorizing the board of directors, through a committee to be appointed by it, to advertise and sell the property of the corporation at auction at not less than a stated price, and to pay the debts of the corporation with the proceeds, with power to declare such sale off in a certain contingency, was not a general assignment, which constituted an act of bankruptcy, under Bankr. Act July 1, 1898, c. 541, § 3a (4), 30 Stat. 346 (U. S. Comp. St. 1901, p. 3422), as amended by Act Feb. 5, 1903, e. 4S7, § 2, 32 Stat. 797 (U. S. Comp. St. Supp. 1907, p. 1025).</p> <p>[Ed. Note. — For other cases, see Bankruptcy, Dee. Dig. § 60.*</p> <p>For other definitions, see Words and Phrases, vol. 4, pp. 3052-3054.]</p>