Moulton v. Coburn

Citations

• 131 F. 201
• 66 C.C.A. 90
• 1904 U.S. App. LEXIS 4278

Syllabus

<p>1. Bankruptcy — Involuntary Proceedings — Withdrawal of Petition for Leave to Join as Petitioner.</p> <p>A court of bankruptcy is authorized, in its discretion, to permit the withdrawal of a petition filed by a creditor asking leave to join in a petition in bankruptcy which had been filed against the debtor, when no action had been taken thereon, and the right of such creditor to become a petitioner was not free from doubt</p> <p>2. Same — Who May Become Petitioners — Creditors Assenting to Assignment.</p> <p>A creditor who has assented in writing to the terms of a common-law assignment for the benefit of creditors, unless under special circumstances, is not entitled to join in an involuntary petition alleging as the sole act of bankruptcy the making of such assignment; being estopped by his election between his rights under the assignment and those under the bankruptcy law.</p> <p>3. Same — Number of Creditors.</p> <p>To entitle less than three creditors to maintain a petition in involuntary bankruptcy, it must appear that there were less than twelve creditors at the date of the filing of the petition.</p>