In re J. C. Winship Co.

Citations

• 120 F. 93
• 56 C.C.A. 45
• 1903 U.S. App. LEXIS 4467

Syllabus

<p>1. Bankruptcy — Claimant of Property — Effect of Composition with Creditors.</p> <p>A corporation against which a petition in involuntary bankruptcy had been filed, on which a receiver was appointed, effected a composition with its creditors, which was confirmed by the court, and carried out, leaving in the custody of the court certain personal property, which was in controversy between the receiver and one claiming the same as a lessor of the corporation under a lease which the receiver claimed was void as against creditors under the state statute as a secret lien. No adjudication of bankruptcy was made, or trustee appointed. Held that, whatever the rights of the lessor petitioner, as- against creditors, it was entitled to the property on the consummation of the composition, leaving no other claimant except the alleged bankrupt, which could not assert the rights of its creditors whose claims had been extinguished.</p> <p>2. Same — Right to Property in Custody of Court — Proceedings to Determine.</p> <p>The question of the right to property or funds in custodia legis is one which the bankruptcy court may summarily determine without the formality of technical pleadings.</p>