Pobreslo v. Joseph M. Boyd Co., 287 U.S. 518 (1933)

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Pobreslo v. Joseph M. Boyd Co.

No. 171

Argued December 13, 1932
Decided January 9, 1933
287 U.S. 518

APPEAL FROM THE SUPREME COURT OF WISCONSIN

Syllabus

1. Voluntary assignments for the benefit of creditors are not inconsistent with the purposes of the federal Bankruptcy Act, though subject to be set aside under it by timely petition of creditors. P. 526.

2. Statutory provisions in Wisconsin regulating voluntary assignments for the ratable benefit of all creditors of the assignor, and forbidding that any creditor gain priority by attachment or garnishment, but not providing for discharge of the assignor or requiring his release by creditors who would participate in the distribution, held not in conflict with the Bankruptcy Act. International Shoe Co. v. Pinkus, 278 U.S. 261, distinguished. Pp. 523-525.

210 Wis. 20, 242 N.W. 725, affirmed.

Appeal from a judgment upholding an assignment for the benefit of creditors and directing the dismissal of a garnishment proceeding brought by a nonassenting creditor.