Kimball v. Richardson Kimball Co.

Citations

• 111 Cal. 386
• 43 P. 1111
• 1896 Cal. LEXIS 594

Syllabus

<p>Attachment—Intervention—Lien of Intervenors—Garnishment.—An attachment or execution creditor has a right to intervene in a suit by a prior attaching creditor, and upon a proper showing defeat the lien of the prior attachment; and it is sufficient to justify such intervention that the intervenor has served the attachment by garnishment of certain property and moneys of the defendant in the hands of a bank, upon which the plaintiff has likewise levied his prior attachment, such garnishment being a lien on defendant’s title to the property in the hands of the garnishee.</p> <p>D.—Property Subject to Attachment—Custody of Law—Interpleader —Suit by Garnishee—Voluntary Payment into Court.—When property is lawfully taken by virtue of legal process it is iu the custody of the law and not otherwise; and money voluntarily paid into court without an order of court therefor, by a garnishee who has filed a complaint in interpleader against attaching creditors with’a view to being discharged from liability to conflicting claimants, is not in the custody of the law, and is the subject of attachment.</p> <p>Id. — Corporations — Insolvency—Attachment by Holder of Unpaid Stock—Postponement of Lien—Equitable Rights of Intervenor.— A creditor of an insolvent corporation, who has obtained a lien by attachment, has an equitable right of intervention in a prior attachment suit brought by an insolvent holder of unpaid stock in the corporation, whose liability to the corporation is largely in excess of his claim against it, in order to prevent the sole assets of the corporation from going to such stockholder, to the exclusion of creditors who have an equitable right to have the entire property and assets, including plaintiff’s liability to the corporation, appropriated to the satisfaction of their demands; and the prior attachment lien of such insolvent stockholder is properly postponed to that of the intervenor, and the equitable rights of the parties can as well be adjusted in the proc