Publisher's Synopsis
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: ...1 Woods, 80, Fed. Cas. No. 2,731. And see In re Troy Woolen Co., 8 Blatchf. 465, Fed. Cas. No. 14,201, for other circumstances which will discredit a trustee's sale. The bankruptcy court has power, by summary order, to set aside and order to be surrendered and cancelled deeds given by the official trustee without due authority, or improvidently or irregularly. In re Hyde, 19 Blatchf. 115, 6 Fed. 587. In general, the confirmation by the court of a trustee's sale of land relates back to the time of sale, so that the purchaser is entitled to the intermediate rents and profits as against the trustee; but this rule cannot hold in the face of a statute on the subject, and the opinion is intimated in Lathrop v. Nelson, 4 Dill. 194, Fed. Cas. No. 8,111, that it may yield to countervailing equities arising out of special circumstances. Deposit of Cash. A trustee in bankruptcy who disregards the express order of the court in depositing funds of the estate, is liable for the interest which the designated depository would have paid. In re Newcomb, 32 Fed. 826. And he is also liable, in the absence of a reasonable explanation or excuse, for legal interest on money collected by him and not deposited, where the same remains in his hands for a considerable period of time. In re Burt, 27 Fed. 548; In re Thorp, 4 N. Y. Leg. Obs. 337, Fed. Cas. No. 14,002; In re Newcomb, 32 Fed. 826. Discharge of Trustee. A step which in effect puts an end to the bankruptcy proceedings ought not to be taken without notice to the creditors. So, where a trustee sought to renounce his trust by making application for his discharge, based on his own affidavit alleging that no tangible assets have come into his hands, and that he has no information of any property belonging to...
