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Updated: May 24, 2025
The compensation offered for this unparalleled breach of faith was a grant of twelve hundred acres to each assignee. Nine of the individuals concerned assented to those terms, but Mr. Berczy refused to accept any such inadequate recompense, and he remained for the rest of his life a ruined man.
The trustee in bankruptcy can sue in any court in the country in which the debtor could have sued for the same cause of action. The trustee or assignee in insolvency, acting under the appointment of a State court, can only sue within that State, unless his title has been fortified by a conveyance from the insolvent which would be good at common law.
"Ah?" "Yes good morning. I will see you again as soon as all is over." "Very well good morning." On the next day, Mr. Hardy met before the commissioners, and took a solemn oath that he had truly and honestly given up into the hands of his assignee every dollar of his property, for the benefit of his creditors, and that he did not now possess any thing beyond what the law permitted him to retain.
In three months the first and only store was put into the hands of an assignee and the man left the city. An audit of his accounts showed that he had collected $3,600. One-fourth of this had gone for promotion expenses, $2,350 for rental, fixtures, etc., leaving only $350 for operating expenses. Where the Finns spent three-tenths of one per cent for promotion he had spent twenty-five per cent.
All bills obligatory and of credit under the seal of the corporation made to any person, may by endorsement be assigned, and such assignment shall transfer the property to the moneys due upon the same, and the assignee may sue in his own name.
On the 16th of April, 1828, the partnership of Laurent and Balzac was dissolved, the former remaining as assignee. Balzac was dismayed. The menace of insolvency closed the horizon of all his hopes. He had wished to triumph without the aid of his family, to demonstrate that he could carry on a business and achieve a fortune.
But this feeling very soon wore off, and he found himself laughing and talking with Giles the stationer, and Burrows the printer, and Sloman the official assignee, as though a bankruptcy were an excellent joke; and as though he, as one of the bankrupts, had by far the best of it.
My brother John had left the railway, and for nine years had been Official Assignee and Curator of Intestate Estates; and in 1863 he had been appointed manager of the new Adelaide branch of the English, Scottish, and Australian Bank. My friend, Mr. Taylor, had helped well to get the position for one he thought the fittest man in the city.
Accordingly the question arose, whether the assignment becomes void, if the parent subsequently emancipates the assignee? and the affirmative opinion, which was held by Julian and many others, has now become settled law.
"The United States will appropriate and pay to 'The European and North American Railway Company of Maine' the sum of two millions of dollars upon the construction of a continuous line of railroad from Bangor, in Maine, to Saint John's, in New Brunswick: Provided, That said 'The European and North American Railway Company of Maine' shall release the Government of the United States from all claims held by it as assignee of the States of Maine and Massachusetts.
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