Delaware Chancery Reports; Reports of Cases Determined in the Court of Chancery and on Appeals Therefrom in the Supreme Court of Delaware Volume 7
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899 edition. Excerpt: ...on a judgment bond to which said mortgage is collateral. On these several judgments, executions were issued in the order stated, and levies made on the personal property of the debtor corporation. Therewere also tax liens against the corporation which were prior in effect to the liens of the mortgage, and the tax collector shortly after the appointment of the receiver threatened to enforce the payment thereof by legal process if not promptly paid. The _receiver paid them out of the funds in his hands derived from the sale of the personal property, upon which the liens of the executions rested. Subsequently the Fruit Growers' National Bank, after first having obtained the permission of the court, instituted foreclosure proceedings on its mortgage in the Superior Court in and for New Castle County, which resulted in the sale of the mortgaged premises, and the application of the whole of the proceeds thereof to the mortgage debt.. There is another judgment in favor of I. P. Thomas & Son Company, but it was not obtained until after the appointment of the receiver, and, therefore, does not take rank among the judgment or mortgage liens. The goods of the debtor corporation consisted largely of phosphate material. The receiver deeming it ex pedient to work this raw material up into a commercial fertilizer, and dispose of it in the most ready market at hand, obtained permission of the court so to do and realized out of it and other articles of personal property, the gross sum of $5,082.33. Out of the remainder of the personal assets, consisting entirely of the outstanding accounts, he collected $5,792.76. These two sums, aggregating $10,875.09, constituted the total assets of the insolvent corporation. On the 6th day of August, A. D....
- 189 x 246 x 7mm | 254g
- 13 Sep 2013
- United States
- black & white illustrations