Assignment of St. James Hotel Co.
This text of 3 Ohio N.P. 42 (Assignment of St. James Hotel Co.) is published on Counsel Stack Legal Research, covering Hamilton County Court of Insolvency primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
At the time of the assignment the hotel was filled with guests, and it was deemed of first importance to retain the good will of the house by continuing the business. This was accordingly done upon order of Judge Ferris without waiting for the consent of three-fourths of the creditors.
The business proved a losing one, and on distribution there was not enough to pay the expenses of continuing the business, and also the labor claims outstanding at the time of the assignment.
Held, That it is discretionary with a Judge in insolvency to preserve a property under such circumstances by ordering that the business be continued without waiting for consent of the creditors. Theexpenses.of continuing the business in this case will therefore be paid before the labor claims.
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3 Ohio N.P. 42, Counsel Stack Legal Research, https://law.counselstack.com/opinion/assignment-of-st-james-hotel-co-ohctinsolvhamil-1896.