In re the Receivers of the Globe Insurance

Citations

• 6 Paige Ch. 102
• 1836 N.Y. LEXIS 281
• 1836 N.Y. Misc. LEXIS 87

Syllabus

<p>The receivers of an insurance company which was rendered insolvent by the great fire in the city of New-York, appointed pursuant to the act of January, 1836, are subject to the control of the court of chancery. And an order of the court directing or controlling them in the discharge of their duties is not only binding upon them, but also upon the creditors of the insolvent corporation.</p> <p>Where bills or petitions are filed in the first or third circuit, the designation or marking of the paper in conformity to the seventh rule of the court determines the question whether the suit or proceeding is instituted before the chancellor, or before the vice chancellor of the circuit where the bill or petition is filed.</p> <p>When a summary proceeding has been commenced and is pending before a vice chancellor, who has thus obtained jurisdiction of the case, the chancellor will not proceed upon an original petition in relation to the same matter.</p> <p>Directions as to the duties of receivers of insolvent corporations in the settlement of the claims of creditors and in the distribution of the fund.</p>