S. S. Kresge Co. v. Twelve Seventy-Five Woodward Avenue Corp.

In 1923 plaintiff leased premises for 10 years to William and Annie Feinstein. The latter, being indebted to Samuel Cassidy, executed to him a sublease of the premises as security. In 1927, some rather complicated refinancing instruments were executed. The Twelve Seventy-Five Woodward Avenue Corporation was organized to hold the sublease. Thereupon Cassidy canceled his sublease; a-sublease was executed by the Feinsteins to the Twelve Seventy-Five Woodward Avenue Corporation; all the capital stock of the corporation was assigned to Cassidy as security for the debt owed him by the Feinsteins;…