United States Trust Co. v. New York West Shore & Buffalo Railway Co.
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court in the second judicial department made the second Monday of December, 1885, which affirmed an order of Special Term. This was an action to foreclose a mortgage executed by the railroad company, defendant, upon its property and franchises. Horace Russell and Theodore Houston were appointed receivers of the mortgaged property. The order appealed from fixed and settled their compensation at $40,000 each.
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Appeal from order of the General Term of the Supreme Court in the second judicial department made the second Monday of December, 1885, which affirmed an order of Special Term. This was an action to foreclose a mortgage executed by the railroad company, defendant, upon its property and franchises. Horace Russell and Theodore Houston were appointed receivers of the mortgaged property. The order appealed from fixed and settled their compensation at $40,000 each. The provisions of chapter 378, Laws of 1873, extend to all receivers of all corporations. (Guardian L. Ins. Case, 93 N. Y. 631; Clinch…
1Opinion of the CourtAndrews, J.
The Code of Civil Procedure, which was in force when the proceedings in this action were taken, furnishes the general rule governing the allowance of commissions to receivers. It is found in section 3320, which provides as follows: “ § 3320. A receiver, except as otherwise specially prescribed by statute, is entitled, in addition to his lawful expenses, to such a commission, not exceeding five per centum upon the sum received and disbursed by him, as the court by which, or judge by whom he is appointed, allows.” The judge at Special Term in substance held that this section governed the…
2Cases cited3 opinions
- Smith v. . the PeopleNew York Court of Appeals · 1872
- Keeney v. . Home Insurance CompanyNew York Court of Appeals · 1877
- Hollenbeck v. . DonnellNew York Court of Appeals · 1884
3Cited by33 opinions
- Decker v. . GardnerNew York Court of Appeals · 1891
- Richardson v. Clinton Wall Trunk Manufacturing Co.Massachusetts Supreme Judicial Court · 1902
- Young v. StewartSupreme Court of Iowa · 1926
- Stokes v. . Hoffman House of New YorkNew York Court of Appeals · 1901
- In re KaneNew York Court of Appeals · 1990
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