Re Greer, A Bankrupt

• Jurisdiction: Ireland
• Judgment Date: 29 June 1877
• Date: 29 June 1877
• Court: Chancery Division (Ireland)

Bankruptcy.

RE GREER, A BANKRUPT.

Ex parte JohnsonENR 3 De G. M. & G. 218.

Ex parte Hunter 6 Ves. 94.

Price v. JenkinsELR 4 Ch. D. 483.

Ex parte Biley Brothers 8 "Irish Law Times," 212.

Ex parte Amphlets Mont R. 77.

Creditor's proof of debt — Appropriation of securities — Right to prove and vote — Right to participate in dividends — Marriage consideration — Voluntary deed — Assignment of leaseholds — Valueable consideration.

V. C. Court. Jane Dunne ; And this Court doth order that the said Thomas Barber, Henry-1877. Rochford, and Jane Dunne, do abide their own costs of this motion. Ex parte S. & W. Solicitors for the Petitioner: Messrs. Thomas Geoghegan Sons... RAIL. Co. Solicitor for Henry Rochford : Mr. John Lawless. Solicitors for Jane Dunne : Messrs. J. D. Mellon 8/ Sons. RE GREER, A BANKRUPT. Creditor's proof of debt-Appropriation of securities-Right to prove and vote-Right to participate in dividends-Marriage consideration-Voluntary deed -Assignment of leaseholds-Valuable consideration. 1. A creditor holding securities not specifically appropriated to any particular-debts may apply them in discharge of whatever liabilities of the bankrupt he may think fit, and prove in respect of any debts for which he has no security; but he can neither prove nor vote in respect of any secured debt, unless he has first realized his security and it has proved deficient, or unless he has put a value upon it ; and, until proof is made in respect of such debt, he cannot parÂÂticipate in any intermediate dividend that may be made of the bankrupt's. estate. 2. A second marriage, in contemplation of which a father executes a deed providing for children by a former marriage, is not a valuable consideration. 3. When a lease is held at a full or substantial rent, and contains onerous-covenants on the part of the lessee, an assignment (free from actual fraud) to-an assignee who subjects himself to the performance of the covenants is not voluntary. THE facts are fully and minutely stated in the judgment. Mr. Purcell, Q. C., and Mr. R. Murray, for the Chargeants,. cited 2 Lindl. on Partn., p. 1219, 3rd ed. ; Ex parte Johnson (1) ; Ex parte Hunter (2) ; The Bankruptcy Act 1872, s. 63 ; G. 0. 85; Price v. Jenkins (3). Mr. Porter, Q. C., and Dir. Perry, for the Assignees, cited Ex-parte Birky Brothers (4). (1) 3 De G. M. & G. 218. (3) 4 Ch. D. 483. (2) 6 Yes. 94. (4) 8 "Irish Law Times," 212. Vol. XI.] EQUITY SERIES. 503 Kr. Dodd, for the trustees of the deed of the 8th December, Bankruptcy. 1864, cited Price v. Jenkins (1). Judgment reserved. Be GREER, A BANKRUPT. MILLER, :- The Provincial Bank of Ireland made a proof of a debt in this June 29. matter in the sum of £7168 is. 8d., on foot of several bills of exchange indorsed to the Bank for full value, presented for payÂÂment, dishonoured and due notice of dishonour given. For the purposes of securing repayment of the said sum, or any other sum due to the Bank by the bankrupt, he granted to two officers of the Bank certain mortgages, and also indorsed to the Bank, as collaÂÂteral security, certain bills of exchange. The bankrupt was at the date of filing the petition and still is indebted to the Bank-besides the said sum of £7168 is. 8d.-in the sums of £2829 8s. 8d., and £9575 17s. 8d.; the two last-mentioned sums exceed the value of the policies of insurance and premises so mortgaged to the Bank, and the value of said bills. The Bank therefore elected to treat the debt of £7168 is. 8d. as an unsecured debt, and to exclude it from the sums secured by the mortgages...