Lanterna Rally

Author: William Miller Collier

Publisher: Rarebooksclub.com

Published: 2013-09

Total Pages: 248

ISBN-13: 9781230027937

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1898 edition. Excerpt: ...to a claim, (section 2 r8), ought to prevent the hearing of disputed claims from dragging on for a great length of time, and also ought to deter rival creditors from making groundless objec 55. Subsequent Meetings---Power of the Creditors Over the Trustee. tions. (Compare in re Bartusch, 9 B. R. 478.) Further, while any determination as to the validity of a claim should be made only after due consideration of all the evidence which may be produced, yet it is to be borne in mind that any error resulting from a hasty decision may be corrected, as the court has power to reconsider the allowance or disallowance of claims. (Section 2 2.) It is true that under the former act it was repeatedly held that that act nowhere directed, nor did it contemplate the postponement of a vote for assignee while a dispute was pending as to the allowance of a claim to which objection was made; that on the contrary it contemplated the utmost practical expedition in chosing an assignee, and that the creditors whose claims were allowed were in no way obliged to postpone the election of assignee until the determination of disputed claims. (In re Northern Iron Co., 14 B. R. 356; in re G. Jackson, I4 B. R. 449; in r.-Lake Superior S. C. R. R., 7 B. R. 376.) But it is to be noted that that act expressly provided (act of I867, section 13), that " when a claim is presented for proof before the election of an assignee and a judge entertains doubts of its validity and the right of a creditor to prove it, and is of opinion that such validity or right ought to be investigated by the assignee, he may postpone the proof of the claim until the assignee is chosen; " while the present act expressly provides that before proceeding with the other business...