38 A. 502 | N.H. | 1894
Section 26 of the insolvency statute (P. S., c. 201), which provides that "The proceedings in insolvency shall dissolve all attachments of the debtor's property made within three months before the beginning thereof," applies to attachments on mesne process under which the lien acquired is merely contingent and provisional upon the recovery of judgment by the plaintiff, and does not apply to absolute liens acquired by a seizure or levy on execution as contended by the defendant.
An execution is final process and the end of the law, and the settled doctrine is that a seizure or levy upon it before the commencement of insolvency or bankruptcy proceedings against the debtor under statutes containing provisions like that in s. 26, although not completed until afterwards, is not dissolved or impaired by the proceedings. In such a case, the possession of the sheriff cannot be disturbed by the assignee, who is only entitled to the residue of the property remaining after the execution has been satisfied. Cushing v. Arnold, 9 Met. 23, 26; Andrews v. Southwick, 13 Met. 535; Hall v. Hoxie, 3 Met. 251; Marshall v. Knox, 16 Wall. 551; Savage v. Best, 3 How. 111; Mollison v. Eaton,
The conversion of the property in suit by the defendant was unlawful. If the failure of the plaintiff to advertise and sell it as required by P. S., c. 232, s. 2, rendered its subsequent retention by him invalid as against other creditors of the debtor (Poole v. Symonds,
The action can be maintained on the agreed facts.
Case discharged.
All concurred.