Summary

May v. Henderson — Opinion of the Court

But we think that a bankrupt who is shown to have turned over generally his assets and property to the receiver or the trustee in bankruptcy, is in a different situation from one not a bankrupt who is under a duty to account in a summary proceeding. A court of bankruptcy should not make useless orders. If the bankrupt has turned over his property generally to the bankruptcy court, and is not shown to possess or control the specific property which is the subject of summary order, there may be a presumption that any order will be groundless.
Source: Wikisource

May v. Henderson — Opinion of the Court

They do not discharge the duty to account by showing that they assented to a cancellation of their bank account as assignees, and its application on an indebtedness of the bankrupt to the bank. The duty of a fiduciary to account for property intrusted to his care is fulfilled by delivery of the property, but, if he has put it out of his power to deliver it, he may nevertheless be compelled to account for its worth.
Source: Wikisource

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