East Side Bank v. Columbus Tanning Co.

Supreme Court of Pennsylvania July 18, 1895

East Side Bank v. Columbus Tanning Co., 170 Pa. 1 (Pa. 1895)

32 A. 539; 1895 Pa. LEXIS 1355

Fell, Green, McCollum, Sterrett, Williams

Opinion of the Court

Opinion by

Mr. Justice Fell,

The appeal in this case presents two questions. The first relates to the validity of the judgment under which the defendant’s property was sold and the right of the appellant to raise the question in the proceeding before the auditor; the second to the rights of the creditors of a corporation in the distribution of the fund arising from the sale of its property by the sheriff. Both questions were correctly decided by the learned judge of the common pleas. The second arises out of a state of facts substantially the same as those in Roy’s Appeal, No. 113, January term, 1895, in which the opinion of the court has been filed.

Judgment affirmed.

Reference

Full Case Name: East Side Bank v. Columbus Tanning Co. Chautauqua County National Bank's Appeal
Cited By: 9 cases
Status: Published
Syllabus: Corporations — Foreign corporations — Insolvency—Preferences—Conflict of laws. The directors of a New York corporation at a meeting held in New York authorized the president of the company to prefer a New York creditor by confessing judgment to him in Pennsylvania, although the corporation was at the time insolvent, and the laws of New York forbid preferences by corporations upon the eve of insolvency: held that distribution was properly awarded to the execution creditor. Such creditor cannot be deprived of his rights under the judgment because the foreign corporation was doing business in Pennsylvania without having complied with the requirements of the Pennsylvania statutes. Corporations — Execution—Preferences. The property of a private corporation having no public duties to perform may be taken in execution and sold under an ordinary writ of fieri facias.