INSOLVENTS 2017

acknowledge the same; and it shall be the duty of the debtor at such meet-
ing to answer under oath any interrogatories of the creditors or any of
them touching his property and the disposition of the same, his indebted-
ness, the judgments and suits against him and as to any matter relating to
his business, and the said clerk or deputy clerk shall administer to such
debtor an oath that he will speak the whole truth without concealment or
evasion in answer to any interrogatories propounded to him at said meet-
ing, and said clerk of deputy clerk may adjourn said meeting from time
to time.

Title, powers and duties of trustee.

The trustee can only collect what is actually due an insolvent. He is not a bona
fide purchaser for value and right of set-off applies as against him. An insolvent
trustee compared with a receiver and with a conventional trustee. Colton v. Drovers'
Bldg. Assn., 90 Md. 95. See also Dowler v. Cushwa, 27 Md. 366.

While a trustee takes the property subject to valid liens, his control over it and
right to recover it are not wholly limited to what the insolvent might do. The trustee
represents all the creditors. Applegarth v. Wagner, 86 Md. 472.

The title of all the insolvent's property vests in trustee whether deed from in-
solvent is executed or not. The trustee represents creditors and is the proper party
to attack fraudulent conveyances. Waters v. Dashiell, 1 Md. 471.

Whether or not property passes to insolvent trustee depends upon whether such
property could have been devised or assigned by insolvent or could have descended
from him. Hence, trustee does not take contingent estates, the person to take not
being ascertained. The trustee takes only existing rights. In Re Banks' Will, 87 Md. 429.

This section, in connection with secs. 1 and 19, makes it evident that all insolvent's
property, whether mentioned in schedule or not, save that excepted in sec. 1, vests
in the trustee. Design of insolvent laws and powers and duties of trustees, discussed.
Zeigler v. King, 9 Md. 333.

Where a fi. fa. has been used upon a judgment against certain land, but the land
has not been sold, and later a writ of venditioni exponas is issued on the fi. fa., but
prior to issue of latter writ judgment debtor goes into insolvency, insolvent trustee
takes title to the land, and its subsequent sale by the sheriff is nugatory, the purchaser
being charged with notice of insolvent proceedings. The insolvent trustee takes title
though the deed from insolvent to him is defective. Manahan v. Sammon, 3 Md. 470.

Since under our law all of insolvent's property passes to his trustee, this rule will
be enforced as to property brought to Maryland from another state, although laws
of latter do not so provide; so also, as to deed by an insolvent which our law declares
fraudulent. Whether deed be fraudulently obtained from an insolvent, or is the
result of fraud practiced upon him, if thereby his creditors are defrauded, the trustee
is person to claim property. All the property of an insolvent wherever situated, is
conveyed to the trustee. Where money is paid an insolvent in consideration of a
conveyance which is fraudulent as to creditors, the trustee may maintain trover
without returning the money so paid. Contract among creditors not to institute legal
proceedings during a certain period pending an investigation, upheld. Gardner v.
Lewis, 7 Gill, 392.

The insolvency of the holder of a note or bill of exchange passes the title thereto
to his trustee. Somerville v. Brown, 5 Gill, 425.

Funds of insolvent in hands of a receiver in equity vest in insolvent trustee from
time of his appointment. Glenn v. Boston Glass Co., 7 Md. 295.

The right to a trade-mark, not personal, but which denotes the place where the
goods are manufactured, passes to the assignee under bankrupt or insolvent laws.
Wilmer v. Thomas, 74 Md. 491.

Though the insolvent has made an absolute transfer of property in the nature of a
trust, such property must be administered by insolvent trustee. Bank of Westminster
v. Whyte, 3 Md. Ch. 511.

Insolvency of buyer does not revoke a purchase of goods made prior to insolvency.
The seller has his right of stoppage in transitu, but if the goods are once delivered,
title vests in assignee. The same principle applies to an assignment for benefit of
creditors. McElroy v. Seery, 61 Md. 398.

For a case where property was held to have passed to an insolvent trustee sub-
ject to liens, see Repp v. Repp, 12 G. & J. 352.

Insolvent trustee has no power to sell without an order of court. Where an equitable
title is vested in an insolvent, G. & B. holding the legal title as security for certain
claims, insolvent trustee can only sell equitable title. If this is not advantageous,
trustee may institute proceedings in equity against G. & B. Where trustees are the
same in two insolvent cases, they cannot file a bond in one of the cases conditioned
upon a performance of their duties in both cases. Each case must be conducted sepa-
rately, though property owned by two insolvents jointly may be sold at same time.
Gable v. Scott, 56 Md. 181.

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