In re Savage
In re Savage
Opinion of the Court
The assignee in this matter makes application for a discharge, based on his own affidavit, alleging that no tangible assets have come into bis bands, and that he has no information of any property belonging to the bankrupt. The affidavit also contains, in substance, the averment that he was, at the time of his appointment,
“Preparatory to the final dividend, the assignee shall submit his acccount to the court and file the same, and give notice to the creditors of such filing, and shall also give notice that he will apply for a settlement of his account, and for a discharge from all liability as assignee, at a time to be specified in such notice, and at such time the court shall audit and pass the accounts of the assignee, and the assignee shall, if required by the court, be examined as to the truth of Ms account, and if it is found correct he shall thereby be discharged from all liability as assignee to any creditor of the bankrupt.”
Strictly construed the law furnishes no remedy where, in a case like the present, there is no property, no account to be examined, and where no meeting of creditors, after the first, has been held. It will be seen at a glance that a literal compliance with the requirements of the statute is impossible, -but it should, I think, be followed as far as it is practicable to -do so. Many of its provisions are directory merely.
A step which in effect ends the bankruptcy proceedings should not be taken without notice to the creditors; the fact that it was contemplated might induce them to furnish the necessary funds to set the machinery of the law in motion. Great injustice might result, in many cases, from allowing the assignee to renounce his trust without giving those most interested an opportunity to be heard.
This application may be renewed on notice to the creditors who are known, and on a certificate of the register in charge that the
Reference
- Full Case Name
- In re Savage, Bankrupt
- Status
- Published