Fraternal Guardians' Assigned Estate

Supreme Court of Pennsylvania
Fraternal Guardians' Assigned Estate, 159 Pa. 594 (Pa. 1894)
28 A. 482; 1894 Pa. LEXIS 903
Dean, Fell, Green, McCollum, Mitchell, Rett, Stee, Williams

Fraternal Guardians' Assigned Estate

Opinion of the Court

Per Curiam,

All the facts necessary to a proper understanding of the questions presented by the specifications of error in this case are sufficiently set forth in the learned auditor’s report. Twelve exceptions filed to said report were dismissed by the court, and distribution decreed in accordance with the schedule submitted by the auditor. Dismissal of said exceptions, all of which are recited in the first twelve specifications, and refusal to'award the fund in the hands of the assignee to the holders of matured *603certificates in preference to the holders of certificates which had not matured at the date of the assignment, constitute the subjects of complaint in the several specifications of error. We have considered the questions involved, and are of opinion that the findings of fact and conclusions of the learned auditor are substantially correct, and, for reasons fully set forth in his report, the decree should be affirmed. In view of the insolvency of the order, the distribution made by the court below is just and equitable.

Decree affirmed and appeal dismissed with costs to be paid by appellants.

Reference

Full Case Name
Fraternal Guardians' Assigned Estate. Sheeler's Appeal
Cited By
4 cases
Status
Published
Syllabus
Beneficial association — Insolvency—Distribution of estate. The certificates of a beneficial association ran for twenty-eight years. At the end of each period of tiwee and one half years a member, if in good standing, was entitled to receive a sum not exceeding one eighth of the amount of his certificate. After the expiration of the first three and and a half years from the date of its organization but before payment of the amounts due, the association became insolvent and made an assignment for the benefit of creditors. Held, (1) that the entire fund of the assigned estate after paying debts should be distributed pro rata among all of the certificate holders, and (2) that the members whose certificates were more than three and one half years old had no preference for the one eighth of the amount of their certificates.