Court Opinion

ID: 9831736
Source: CourtListenerOpinion
Date Created: 2023-09-01 21:19:32.904664+00
Date Added: 2024-06-11T07:43:34.444810
License: Public Domain

On Rehearing.
The original opinion, it is perceived, denied the appellant, as representative of the creditors, the right of recovery in the facts upon the ground that the withdrawal of the funds by Carter Anderson “did not operate to impair rights of creditors.” The ruling was influenced by the factual elements, namely: (1) The withdrawal of the funds did not “in anywise cause or influence insolvency”; (2) “insolvency did not cause the execution of the-deed of assignment”; and (3) “the failure of the assets to sell for enough to satisfy the corporation debts is attributed to a state of affairs particularly arising at date of assignment,” and not on account of the fact of withdrawal of the particular funds by the manager. If the factual elements had appeared differently, the appellant’s contention would prevail.
The motion is overruled.