There are bunches on bankruptcy lawyers on my pages - apologies to everyone else. I am preparing for my Bankruptcy class tomorrow. I was reviewing some cases we are going to discuss. This is an all time great quote. Remember it is from the Supreme Court in 1874. It is obviously one of the purposes of the Bankrupt law, that there should be a speedy disposition of the bankrupt’s assets. This is only second in importance to securing equality of distribution. The act is filled with provisions for quick and summary disposal of questions arising in the progress of the case, without regard to usual modes of trial attended by some necessary delay. Appeals in some instances must be taken within ten days; and provisions are made to facilitate sales of property, compromises of doubtful claims, and generally for the early discharge of the bankrupt and the speedy settlement of his estate. It is a wise policy, and if those who administer the law could be induced to act upon its spirit, would do much to make the statute more acceptable than it is. But instead of this the inferior courts are filled with suits by or against [trustees], each of whom as soon as appointed retains an attorney, if property enough comes to his hands to pay one, and then instead of speedy sales, reasonable compromises, and efforts to adjust differences, the estate is wasted in profitless litigation, and the fees of the officers who execute the law. Bailey v. Glover (1874) And its still absolutely true.
Posted on: Fri, 04 Apr 2014 01:11:15 +0000
Trending Topics
Recently Viewed Topics
© 2015