Court Opinion

ID: 9643042
Source: CourtListenerOpinion
Date Created: 2023-08-22 18:16:31.667998+00
Date Added: 2024-06-11T18:10:57.179439
License: Public Domain

SIBLEY, Circuit judge
(concurring).
I concur in this judgment, yielding to the literal words of the act and to the literal construction of them in Burlingham v. Crouse, and Everett v. Judson. But I believe strongly that Congress intended something humanitarian, as in matters of homestead, and had in mind only individual bankrupts and insurance policies on their own lives. If a corporation should go into bankruptcy having a policy on the life of its president or of its insolvent debtor, the *75insured being very aged or in the last stages of an incurable disease so that it is apparent that the policy will shortly be collectible, I should hate to hold that the corporation’s stockholders and not its creditors were entitled to the policy although at the date of filing the petition in bankruptcy there may have been no collectible surrender value.