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KOLKMAN v. MANUFACTURERS' TRUST CO.

No. 294.

27 F.2d 659 (1928)

KOLKMAN v. MANUFACTURERS' TRUST CO.

Circuit Court of Appeals, Second Circuit.

July 30, 1928.

Attorney(s) appearing for the Case

Shaine & Weinrib and Lhowe & Obstfeld, all of New York City (Geo. C. Levin, of New York City, of counsel), for appellant.

Jonas & Neuburger, of New York City (Murray L. Jacobs, of New York City, and Leonard G. Bisco, of Brooklyn, N. Y., of counsel), for appellee.

Before MANTON, SWAN, and AUGUSTUS N. HAND, Circuit Judges.

SWAN, Circuit Judge.

The state statute upon which the plaintiff relies to invalidate the payment reads as follows:

"Sec. 15. * * * No conveyance, assignment or transfer of any property of any such corporation by it or by any officer, director or stockholder thereof, nor any payment made, judgment suffered, lien created or security given by it or by any officer, director or stockholder when the corporation is insolvent, or its insolvency is imminent, with the...

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