Paltzer v. National Bank

Citations

• 145 Ill. 177
• 34 N.E. 34

Syllabus

<p>1. Attaching Creditors—priority of liens. A brought his action in June against bis debtors, after which B brought attachment against the debtors, returnable to the next July term. C then entered judgments of confession against the debtors, and took out executions thereon, and bought the claim of B, and dismissed the suit of B. A then brought attachment in aid of his suit, returnable to the July term, which was levied on the same property attached by B, and recovered judgment at the next August term. Held, that C was entitled to the prior lien upon the proceeds of the property so levied on and attached.</p> <p>2. Same—lien of second attachment—affected by dismissal of first. Under section 37 of the Attachment act, in order to make the levy of the first attachment hold the property attached until a subsequent attachment creditor shall recover judgment, and to entitle the latter to share in the proceeds of the property attached, the first attaching creditor must recover judgment in his favor. If he fails in his action or dismisses his suit, subsequent attaching creditors will lose the benefit of the lien acquired by the former, and will take subject to any intervening lien.</p>