Schoenwald v. McDonald

Citations

• 5 Alaska 442

Syllabus

<p>1. Assignments fob Benefit of Creditors <&wkey;199—Foreign Assignments—Conflicting Jurisdiction—Comity.</p> <p>A voluntary assignment for the benefit of creditors should be given force in another state or territory, as to property therein situate, except so far as it comes in conflict with the rights of local creditors or with the public policy of the state or territory in which it is sought to be enforced. Comity does not require any government to give effect to such assignment (for the benefit of creditors) when it shall impair the remedy or lessen the securities of its own citizens.</p> <p>2. Corporations &wkey;>550(2)—Assignment for the Benefit of Creditors—Common-Law Assignment.</p> <p>To constitute a voluntary common-law assignment for the benefit of creditors, by a corporation, it must be shown that it was the act of the company. Where no resolution of the board of directors authorizing the assignment was passed, nothing done to show that it has ever been even discussed at any meeting, or that any meeting of the board was ever held for that purpose, nor that its making has ever since been ratified, it does not constitute a voluntary common-law assignment.</p> <p>3. Assignments fob Benefit of Cbeditobs <&wkey;336—Attachments— Priorities—Receivers.</p> <p>The property of a Minnesota corporation engaged in business in Alaska was placed in the hands of a receiver in the state of Washington at the suit of a creditor. The court afterwards made an order directing the company to execute a general assignment, which it did, for the benefit of all its creditors. The defendant McDonald, without notice of these proceedings attached some of the property of the company in Alaska for a debt due him and contracted there. On the question of the superiority between the Washington receiver and the local attaching creditor, held that, since both the receivership and assignment were in invitum and compulsory, neither has any extraterritorial effect as against attaching resident