7 S.D. 67 | S.D. | 1895
In December, 1890, the State Bindery Company, a coloration, made an assignment for the benefit of its creditors to Boyal P. King, as assignee. Prior to this assignment Alexander C. McClurg and Frederick Smith, as copartners, had commenced an action to recover the amount due them from said State Bindery Comxiany, for which judgment was rendered in their favor in the fall of 1891. A judgment was also rendered about the same time against said corporation in favor of Harry H. Latham for an amount due him. In November, 1892, said judgment creditors served upon said King notice of a motion for an order, substantially as follows: That the said Boyal F. King, assignee, render an account of his proceedings as said assignee within- a given time, to be fixed by said court, and also for an order for him to file a report of his x»'oceedings as said assignee with said court, and to file a report of the condition of the estate in his hands, or disposed of by him as said* assignee, and also for an order requiring him, as said assignee, to make a distribution of the money in his hands as said assignee, derived from the sale of the property of his assignor, the said State Bindery Company, to the creditors of said State Bindery Company, including the petitioners herein, the said A. C. McClurg & Co.
It is further contended that the court erred in making the order for the removal of the assignee, for the reason that no formal objections to the report of the assignee were filed, and no cause was shown for the making of the order of removal. But we think, in view of the facts disclosed by the record in this case, that this position is not tenable. It will be observed, from that portion of the notice copied into this opinion, that notice was given that the motion would be made that the assignee render an account, report his proceedings, file a report of the condition of the estate, and make distribution of the money in his hands to the creditors. Upon the hearing of that motion, the assignee was ordered to file his account and report. By the report so filed, and the admissions of the assignee made in open court, it appeared that the proceedings of the assignee had been clearly irregular, and that there was good and sufficient cause for his removal as such assignee.
It is also contended that the court erred in removing him without notice. But we think that, under the facts disclosed by
It is further contended that the order is insufficient to transfer the estate to the new assignee. But this, in our opinion, is not tenable. The order provides: “And it is ordered that all the trust estate, real, personal and mixed, of every kind or nature, be and the same is hereby transferred and set over to the said Terrill Pattison, Esq., assignee herein appointed.” This order fully complies with the terms of the statute which provides that such order “shall in terms transfer to such new assignee or assignees, all the trust estate, real, personal and mixed.” Section 4675, Comp. Laws. This the order in the case at bar does, in the terms of the statute. Finding no error in the record, the order of the circuit court is affirmed.