§ 58 — Consent of purchaser or assignee of debt

New York § 58

• Jurisdiction: New York
• Law DCD: Debtor & Creditor
• Art. 3: Insolvent's Discharge From Debts

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§ 58. Consent of purchaser or assignee of debt. Where a consenting\ncreditor is the purchaser or assignee of a debt against the petitioner,\nor the executor, administrator, trustee, or receiver of such a purchaser\nor assignee, he is deemed, for all the purposes of this article, except\nas to the declaration and receipt of dividends, a creditor only to the\namount, actually and in good faith paid for the debt, by him, or by the\ndecedent or other person, from whom he derives title, and remaining\nuncollected. This section is not affected by the recovery of a judgment\nfor the debt, after the purchase or assignment; but in that case, the\nconsenting creditor may include the uncollected costs, as if they were\npart of the sum paid for the debt.\n