BUECHNER v. FARBEN. BAYER AKT

1 Citing case

  1. Cheff, et al. v. Athlone Industries

    233 A.2d 170 (Del. 1967)   Cited 9 times

    In the absence of fraud, and prior to the settlement of the estate, a creditor of Cheff could not look directly to specific assets of the residuary estate in satisfaction of his claim against Cheff. First Nat. Bank of Dagsboro v. Lofland, 4 W.W.Harr. 97, 143 A. 407 (1928); Stayton v. Delaware Trust Company, supra; Union Properties, Inc. v. Patterson, 143 Ohio St. 192, 54 N.E.2d 668 (1944); Annotation, 123 A.L.R. 1293, et seq. The shares could not be sold under § satisfy the demand of the plaintiff in this case; as has been seen, Cheff held no direct interest therein subject to sale. It follows, in our opinion that Cheff had no interest, subject to sequestration under § 366, in the stock registered in the name of Katherine Nystrom Cheff. Compare Buechner v. Farbenfabriken Bayer Aktiengesell, 38 Del. Ch. 490, 154 A.2d 684 (1959), aff'g 38 Del. Ch. 329, 151 A.2d 125 (1958). Here, as there, the seizure was not of property in which the defendant had an equitable interest; rather, it was the property of an entity in which the defendant had an equitable interest.