Palmer Clay Products Co. v. BrownAnnotate this Case
297 U.S. 227 (1936)
U.S. Supreme Court
Palmer Clay Products Co. v. Brown, 297 U.S. 227 (1936)
Palmer Clay Products Co. v. Brown
Argued December 13, 1935
Decided February 10, 1936
297 U.S. 227
Whether a payment to a creditor by an insolvent debtor on an overdue debt, within four months of the debtor's bankruptcy, operates as a preference, voidable by the trustee, under § 60(a), (b), of the Bankruptcy Act, depends not upon what would have been its effect on creditors if the debtor's assets had been liquidated and distributed at the time of the payment, but upon its actual effect determined in the ensuing bankruptcy. P. 297 U. S. 228.
290 Mass. 108, 195 N.E. 122, affirmed.
Certiorari, 296 U.S. 556, to review a judgment recovered by Brown as trustee in bankruptcy. The judgment was entered in the court below pursuant to a rescript from the Supreme Judicial Court of Massachusetts.