McCartney v. Earle

Citations

• 115 F. 462
• 53 C.C.A. 392
• 1902 U.S. App. LEXIS 4221

Syllabus

<p>1. Jurisdiction of Federal Courts — Suit by Receiver of National Bane,</p> <p>A suit brought by the receiver of a national bank, by direction of the comptroller of the currency, to enforce a liability due to the bank, and to secure a sale under the order of the court of pledged securities, constituting a considerable part of its assets, is one for winding up the affairs of the bank, within the meaning of the proviso to section 4 of the federal judiciary act of 1888, and within the jurisdiction of a circuit court of the United States, without regard to the citizenship of the parties.1</p> <p>2. Fraudulent Conveyance — Necessity of Recording — Conveyance in Trust under Pennsylvania Statute.</p> <p>The provision of Act Pa. March 24, 1818, requiring all assignments in trust by debtors on account of inability at the time to pay their debts to be recorded within 30 days, and declaring them to be void if not so recorded, does not apply to a transfer made directly to a creditor for his benefit alone; and the transfer of property to the receiver of a national bank to secure a debt due to the bank is, in effect, one to the bank itself; and not in trust, and is not within the statute.</p> <p>8. Same — Preferential Conveyance — Fraudulent Intent.</p> <p>No presumption of a fraudulent intent to hinder and delay other creditors arises from a transfer of property as security to a bona fide creditor, whose debt is due, although it is understood by the parties that the effect of the transfer will be to give such creditor a preference; ñor. can such an intent be inferred from a provision of the instrument of transfer that the property shall be returned in case a certain contemplated adjustment of the affairs of the debtor shall be made, which provision is favorable to other creditors.</p> <p>4. Same.</p> <p>Evidence helé insufficient to establish the invalidity of a transfer of property by an insolvent debtor to the receiver of a national bank by way of security for a debt due the