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IN RE COMET TEXTILE CO.

15 F.Supp. 963 (1936)

In re COMET TEXTILE CO., Inc.

District Court, S. D. New York.

August 4, 1936.

Attorney(s) appearing for the Case

David Haar, of New York City, for trustee.

Joseph Dannenberg, of New York City (Julius M. Arnstein, of New York City, of counsel), for Chelsea Factors Corporation.

PATTERSON, District Judge.

The question is the validity of a lien claimed under the New York Factors Act (New York Personal Property Law [Consol.Laws, c. 41] § 45). The gist of that act is that, where so provided by written agreement, factors, consignees, commission merchants, and pledgees shall have a continuing lien for their loans or advances on all goods consigned to or pledged with them, whether in their possession or not, and on accounts receivable or proceeds...

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