Lambert

Lambert v. Slade

Good Law
4 Cal. 337
Supreme Court of CaliforniaOctober 15, 1854California292 words

Opinion

Lead Opinion

Murray, J.

delivered the opinion of the Court.

The only question in this case is, whether a creditor, whose name has been omitted in the schedule of an insolvent debtor, under our statute, can be allowed to intervene for the purpose of opposing the insolvent’s discharge.

The Act requires the petition to set forth the names- of the creditors, the amount of assets, etc.

It further provides that any one or more of the creditors may attack the assignment, on the ground of “fraud,”

If the word “creditors,” as used in the 20th section of the Act, is to be limited in its operation to those creditors enumerated in the schedule, it follows that it must be taken with a like limitation wherever it occurs in the statute.

This construction would successfully enable the debtor to prefer any class of creditors, by simply omitting the names of others, leaving his assets to be distributed among a favorite few.

In such cases, the concealment of the name of a foreign creditor, would often deprive him of all remedy, inasmuch as the entire estate might be distributed without notice to him.

The intention of the statute was to throw all the assets into one common fund, for the benefit of all…

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