William R. Day

“ The trustee may avoid any transfer by the bankrupt of his property which any creditor of such bankrupt might have avoided, and may recover the property so transferred, or its value, from the person to whom it was transferred, unless he was a bona fide holder for value prior to the date of the adjudication. ”

“ Upon issue made as to its jurisdiction, the district court held it was without jurisdiction, and dismissed the suit.
In Bardes v. First Nat. Bank, 178 U.S. 524, 44 L. ed. 1175, 20 Sup. Ct. Rep. 1000, this court held that under § 23 of the bankruptcy act of 1898 [30 Stat. at L. 544, chap. 541, U.S.C.omp. Stat. 1901, p. 3418] , the district court of the United States could, by the consent of the defendant, and not otherwise, entertain suits by the trustee against third persons to recover property conveyed by the bankrupt before the institution of proceedings in bankruptcy. ”