History
  • No items yet
midpage
Irving Bass v. Aetna Factors Co.
272 F.2d 707
| 9th Cir. | 1959
|
Check Treatment

272 F.2d 707

Irving I. BASS, Trustee in Bankruptcy of Estate of Zipco,
Inc., a corporation, bankrupt, Appellant,
v.
AETNA FACTORS CO., Fruehauf Trailer Co., and Com-Air
Products, Inc., Appellees.

Nos. 16042, 16228.

United States Court of Appeals Ninth Circuit.

Dec. 7, 1959.

Before STEPHENS, CHAMBERS and BARNES, Circuit Judges.

PER CURIAM.

1

The trustee in bankruptcy in this case is seeking to obtain certain accounts receivable of the bankrupt which had been assigned to Aetna Factors Co. in violation of express terms of the contracts under which the accounts arose. The Bankruptcy Act empowers the trustee to reach any asset which an ideal lien creditor of the bankrupt could reach. 11 U.S.C.A. 110, sub. c. The rights and powers of such a creditor are determined by state law. Under California law, the state in which the transaction occurred, a creditor would be unable to defeat the assignment. Johnston v. Landucci, 21 Cal.2d 63, 130 P.2d 405, 148 A.L.R. 1355. The judgment of the District Court holding that the trustee could not reach the accounts is affirmed.

2

Craig, Weller & Laugharn, Frank C. Weller, Hubert F. Laugharn, Andrew F. Leoni, Joseph S. Potts, Jr., Norman E. Stolba, William E. Bartley, Los Angeles, Cal., for appellant.

3

Quittner, Stutman & Treister, Stanley A. Phipps, Los Angeles, Cal., Alex D. Fred, Beverly Hills, Cal., for appellee.

Case Details

Case Name: Irving Bass v. Aetna Factors Co.
Court Name: Court of Appeals for the Ninth Circuit
Date Published: Dec 7, 1959
Citation: 272 F.2d 707
Docket Number: 16228_1
Court Abbreviation: 9th Cir.
AI-generated responses must be verified and are not legal advice.
Your Notebook is empty. To add cases, bookmark them from your search, or select Add Cases to extract citations from a PDF or a block of text.