Trustee In Bankruptcy Research Articles

The Secured Transactions Article of the Commercial Code and Section 60 of the Bankruptcy Act

The secured creditor enjoys several advantages over his unsecured brethren. If the debtor defaults on his obligation, the secured creditor is sometimes empowered take matters in his own hands, sell the property covered by his security, and reimburse himself out of the proceeds without the time and expense of the lawsuit which the unsecured creditor must resort. If the debtor disposes of all of his property, the secured creditor's claim, if properly perfected, follows the property into the hands of the transferee and may be satisfied therefrom without the necessity of litigation establish that the transfer was a fraudulent conveyance. If unsecured creditors go after property of the debtor satisfy their claims, the secured creditor's interest in the property covered by his security, if properly perfected, is immune from their levies. And if the debtor goes into bankruptcy, the secured creditor has first claim on the proceeds of the property covered by his security, after which he shares pro rata on any unpaid balance with the full claims of unsecured creditors in the remainder of the debtor's assets. But, while the secured creditor realizes one of his greatest advantages in bankruptcy proceedings, he also faces greater hazards in bankruptcy. The bankruptcy trustee is empowered not only set aside security transactions which other creditors could have avoided under the doctrine of fraudulent conveyance or otherwise at state law,' but also avoid certain security transactions under Section 60 of the Bankruptcy Act as preferences-a risk which the secured transaction is not subject outside of bankruptcy save under statutes of a few states. This risk created by Section 60 is the Bankruptcy Act's chief hazard secured creditors and, for the past five years, has been the subject of their excruciating concern. That concern has manifested itself in an energetic campaign which culminated early this year in an amendment adding seven new paragraphs Section 60. Although critics of earlier and simpler versions of this amendment labeled them unintelligible monstrosities which would at once have astonished and delighted Gilbert and Sullivan,2 one of the amendment's leading proponents replies that to anyone who reads the congressional committee reports and the minutes of the hearings, its purposes will be

In re Dutch Trustee in Bankruptcy.

Jurisdiction — Principle of Territoriality — Bankruptcy Proceedings Abroad.

Fraudulent Conveyances. Lien Creditors of Fraudulent Transferee. Bulk Sales Act. Trustee in Bankruptcy as Judgment Creditor

Fraudulent Conveyances. Lien Creditors of Fraudulent Transferee. Bulk Sales Act. Trustee in Bankruptcy as Judgment Creditor

Bankruptcy. Validity of a Trustee in Bankruptcy's Assignment of the Right to Set Aside a Fraudulent Conveyance

Bankruptcy. Validity of a Trustee in Bankruptcy's Assignment of the Right to Set Aside a Fraudulent Conveyance

Personal Liability of Trustee in Bankruptcy for Failure to Pay Tax Claims

Personal Liability of Trustee in Bankruptcy for Failure to Pay Tax Claims

Directors. Statutory Liability for Declaring Unlawful Dividends. Right of Trustee in Bankruptcy to Sue for Creditors

Directors. Statutory Liability for Declaring Unlawful Dividends. Right of Trustee in Bankruptcy to Sue for Creditors

Bankruptcy. Banking. Computation of Dividends after Set-Off of Mutual Claims between Insolvent Bank and Trustee in Bankruptcy

Bankruptcy. Banking. Computation of Dividends after Set-Off of Mutual Claims between Insolvent Bank and Trustee in Bankruptcy

Taxation. Persons Subject to Taxation. Liability of Trustees in Bankruptcy for State Occupation Tax

Taxation. Persons Subject to Taxation. Liability of Trustees in Bankruptcy for State Occupation Tax

Right of Trustee in Bankruptcy to Future Disability Benefits under an Insurance Policy

Right of Trustee in Bankruptcy to Future Disability Benefits under an Insurance Policy

Corporations. Watered Stock. Right of Trustee in Bankruptcy to Collect Assessment on Shares

Corporations. Watered Stock. Right of Trustee in Bankruptcy to Collect Assessment on Shares

Putting Life Insurance beyond the Claims of Trustees in Bankruptcy

Putting Life Insurance beyond the Claims of Trustees in Bankruptcy

Banks. Constructive Trusts. Right of Trustee in Bankruptcy to Recover Funds Placed in Non-Designated Depository

Banks. Constructive Trusts. Right of Trustee in Bankruptcy to Recover Funds Placed in Non-Designated Depository

Effect of Disclaimer of Property by Trustee in Bankruptcy on Lien Acquired within Four Months' Period

Effect of Disclaimer of Property by Trustee in Bankruptcy on Lien Acquired within Four Months' Period

Recovery by Trustee in Bankruptcy of Dividends Distributed under a Confirmed Composition Subsequently Reversed

Recovery by Trustee in Bankruptcy of Dividends Distributed under a Confirmed Composition Subsequently Reversed

Disqualification of Trustees in Bankruptcy for Prejudicial Associations

Disqualification of Trustees in Bankruptcy for Prejudicial Associations

Satisfaction of Judgments against Receivers and Trustees in Bankruptcy

Satisfaction of Judgments against Receivers and Trustees in Bankruptcy

Equity Jurisdiction of Suit by Trustee in Bankruptcy to Recover Preference

Equity Jurisdiction of Suit by Trustee in Bankruptcy to Recover Preference

Federal Jurisdiction in Suits by Trustees in Bankruptcy as Affected by the Consent of the Defendant under Section 23(b) of the Bankruptcy Act

Federal Jurisdiction in Suits by Trustees in Bankruptcy as Affected by the Consent of the Defendant under Section 23(b) of the Bankruptcy Act

Right of Trustee in Bankruptcy to Obtain Partition of Bankrupt's Property

Right of Trustee in Bankruptcy to Obtain Partition of Bankrupt's Property

H. G. Venable Case.

Responsibility of States — Executive Action — Detention and Destruction of Locomotives — Acts of Railway Officials — Requirement of Fault — Indirect Damages — Responsibility for Irregularities in Bankruptcy Proceedings — Responsibility for Acts of Appointed Bankruptcy Trustees — Executive Action and Action of Persons Appointed in the Course of Judicial Proceedings.