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IN RE GUBELMAN

No. 55.

9 F.2d 486 (1925)

In re GUBELMAN et al. Appeal of JASPER.

Circuit Court of Appeals, Second Circuit.

November 2, 1925.

Attorney(s) appearing for the Case

Furman, Thayer & Vreeland, of New York City (J. Lewis Furman and Marshall N. Thayer, both of New York City, of counsel), for appellant.

Rosenberg & Ball, of New York City (George G. Ernst and Ralph F. Colin, both of New York City, of counsel), for appellee trustee.

Before HOUGH, MANTON, and HAND, Circuit Judges.

HOUGH, Circuit Judge (after stating the facts as above).

We have held, quite plainly as it seems to us, that if A. intrusts to B. moneys for investment in a particular manner, but B. does not carry out his undertaking and becomes bankrupt, A. may recover his money out of any fund belonging to B.'s estate into which A.'s money can be traced. The reason for this ruling is that B., by undertaking, as stated, assumed a fiduciary...

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