The National Bankruptcy Register; Containing Reports of the Leading Cases and Principal Rulings in Bankruptcy of the District Judges of the United States Volume 9

The National Bankruptcy Register; Containing Reports of the Leading Cases and Principal Rulings in Bankruptcy of the District Judges of the United States Volume 9

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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. 1874 edition. Excerpt: ... Sutherland case, and that a receiver of the property had been appointed. In these circumstances it was insisted by the assignees that neither Birdseye nor McCarter, being subsequent encumbrancers and already impleaded in the Sutherland suit they might have had their liens adjusted and the property which they covered sold, had a right to file either of the subsequent bills without leave of court, and thus necessitate a triple litigation. They insist further that as doubts exist in reference to the amount of the prior liens which was put in issue by the pleadings, and as to the property which the dominant one covered, it was impossible to make a proper decree under either the Birdseye or McCarter bills. As the facts upon which these equities rested were not contained in the answers and could not be administered as the pleadings in the foreclosure cases then stood, an original bill was filed by the assignees in this court, making Sutherland, Birdseye, McCarter and the Union Trust Company parties, which had for its object a sale of the mortgaged premises free of liens, and an ascertainment of the rights of the various parties interested in the proceeds and their distribution accordingly. Upon this bill a motion was made to stay the proceedings in the foreclosure cases, which was granted. Whether this bill should be entertained, and the rights of all the parties interested in the several mortgages named should be administered in this suit, and in the meantime the foreclosure suits permanently stayed, or whether the equities should be worked 'out in the foreclosure suits--in one or all of them----was the general subject discussed upon the argument and submitted;for decision of the court. The motion for stay was originally made...show more

Product details

  • Paperback | 204 pages
  • 189 x 246 x 11mm | 372g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236848101
  • 9781236848109