Lee v. Russell
Lee v. Russell
Opinion of the Court
Opinion by
The property of the debtor was held by the assignee in trust for the benefit of creditors. Griffin was a creditor for whose benefit the assignment was made, and that instrument not only recognized him as a creditor, but the amount for which the debtor was liable to him is stated. The assignee had a reasonable time in which to settle up the trust, and the creditor had no means of enforcing this settlement unless he alleged some laches on the part of the assignee or other reason for demanding a settlement.
This petition was filed by the assignee with a view of disposing of the trust fund in accordance with the direction of the chancellor. Griffin was one of the beneficiaries, and the assignee had no right to interpose the statute of limitation, as he was, in effect, holding
If there was a mistake in the allowance to Caldwell, Sr., this mistake should have been corrected, and the pleadings and proof indicate that state of case; nor do we see why the attorney’s fee to Russell for services performed for the debtor prior to his assignment should be regarded as a preferred claim. No lien appears in the record. For these reasons the judgment is reversed and cause remanded for further proceedings consistent with this opinion.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.