McRaney v. Riley

Citations

• 128 Miss. 665
• 91 So. 399

Syllabus

<p>1. Bankruptcy. Referee authorised to decree a sale of bankrupt's real estate'free from liens.</p> <p>A referee in bankruptcy, to whom a bankruptcy cause has been referred by the court in pursuance of law, has authority to decree a sale, on a proper showing of the necessity therefor, of any part of the estate of the bankrupt, including real estaco, in the custody of the trustee in bankruptcy, free from liens of creditors, and transfer their liens to the proceeds of such Sale.</p> <p>2. Bankruptcy. Trustee vested with title and custody of bankrupt’s entire estate; bankruptcy court acquires jurisdiction of all bankrupt's assets with authority to adjudicate conflicting claims.</p> <p>By virtue of section 70 of tlie Bankrupt Act (U. S. Comp. St., section 9654), upon adjudication of bankruptcy, and appointment of a trustee as provided by the Bankrupt Act, sueb trustee becomes vested with the title and custody of the entire estate of the bankrupt of every kind, subject to his debts, for 'the purpose of administration; an'd the bankrupt court is authorized by the act to adjudicate in said cause all conflicting claims and liens of creditors of the bankrupt thereto; and the' bankrupt court thereby acquires jurisdiction of all the assets of the bankrupt, except such as are in possession of adversary claimants, by reason whereof the trustee fails to get possession thereof.</p> <p>3.Bawkeuptcy. Bankrupt’s land may be sold free from creditor’s liens after ten days’ notice to creditors.</p> <p>Under the provison of section 58 of the Bankrupt Act (U. S. Comp. St., section 9642), an application by the trustee for the sale of the property of the bankrupt in his custody, free from the liens of creditors, is authorized to be made on not less than ten days’' notice to the creditors of such bankrupt, including the creditors having such liens, given by mail to the respective addresses of such creditors as they appear on the schedule of such bankrupt.</p> <p>4. Bankruptcy. Constitutiona