In re Interstate Paving Co.

Citations

• 197 F. 371
• 1912 U.S. Dist. LEXIS 1427

Syllabus

<p>1. Municipal Corporations (§ 353*) — Public Improvement Contracts — Assignments — Filing—Necessity.</p> <p>Under New York Lien Law (Laws 1897. c. 418) § 15, as amended by Laws 1907, c. 360, effective May 23, 1907, which requires assignments of contracts for the improvement of real property to be filed with the county clerk, and under Act July 22, 1907 (Laws N. Y. 1907, c. 692), creating a new section of the lien law (section 15a), which requires assignments of contracts for public improvements to be filed with the head of the department having charge of the improvement, filing of assignments of the latter class with county clerks is not required.</p> <p>[Ed. Note. — For other cases, see Municipal Corporations, Cent. Dig. §, 885; Dec. Dig. § 353.*]</p> <p>2. Bankruptcy (§ 151*) — Trustee—Title to Property.</p> <p>A trustee in bankruptcy takes the property of the bankrupt, not as an innocent purchaser, but as the debtor had it at the time of the petition subject to all valid claims, liens, and equities.</p> <p>[Ed. Note.. — For other cases, see Bankruptcy, Cent. Dig. § 193; Dec. Dig. § 151.*]</p> <p>3. Municipal Corporations (§ 353*) — Public Improvement Contracts — Assignment — Failure to File — Effect.</p> <p>Failure to file an assignment of a municipal improvement contract, as required by New York Lien Law (Laws 1907, c. 692) § 15a, does not defeat the assignee’s right to the proceeds of warrants issued under the contract as against the contractor’s general creditors; the statute being for the benefit of the city and creditors having lienable claims.</p> <p>[Ed. Note. — For other cases, see Municipal Corporations, Cent. Dig. § 885; Dec.-Dig. § 353.*]</p>