In re Foley
District Court, E.D. Pennsylvania
In re Foley, 140 F. 300 (1905)
1905 U.S. Dist. LEXIS 89
In re Foley
Opinion of the Court
The report of the special referee, Joseph Mellors, Esq., is entirely satisfactory, and I adopt it as the opinion of the court, merely adding that the testimony makes it clear that the disputed payments were not all on account of the current expenses of the business, but that some of them at least were payments of antecedent debts. These, therefore, were preferential, and fall clearly within the inhibition of the act. What effect should be given to these payments, if they had all been for the current expenses of the business, is a question that does not now arise.
The report of the special referee is affirmed, and the clerk is directed to enter an order of adjudication.
Reference
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- In re FOLEY
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- Syllabus
- Bankruptcy — Acts op Bankruptcy — Preferential Payments. Tlie payment by an insolvent saloonkeeper, at various times withim four months prior to the filing of a petition in involuntary bankruptcy against him, of considerable sums of money to two creditors, in part on account of current expenses of his business and in part on account of antecedent debts, while another large creditor was paid nothing during such time, held to constitute a transfer' of property with intent to prefer -the creditors paid, and to be an act of bankruptcy, under Bankr. Act July 1, 1898, § 3a (2), 30 Stat 546 [U. S. Comp. St. 1901. p. 3422]. [Ed. Note. — For cases in point, see vol. 6, Cent. Dig. Bankruptcy, §§,- 72, 79.]