3 Rob. 106 | La. | 1842
Bailey, one of the creditors of the insolvent, is appellant from a judgment sustaining an opposition to the privilege allowed him by the syndic,
The counsel for the appellee has, however, contended, that the insolvent had become a bankrupt before his application for a stay of proceedings ; that there are two kinds of bankruptcies or insolvencies, the actual and the declared; that the first results from the inability of the debtor to pay all his creditors. If the seizure created a privilege in those cases only in which the property of a debtor is sufficient to jpay all his debts, the privilege would only attach in those cases in which it would be needless.
It is, therefore, ordered that the judgment be reversed; the opposition to the plaintiff’s place on the tableau overruled ; and that the opposing creditor and appellee pay the costs in both courts.
The syndic allowed him a preference on the proceeds of the property seized.