Reconstruction Finance Corp. v. Barnett

SPARKS, Circuit Judge.

This appeal involves the right of appellant, the assignee of a note secured by trust deed on real property, to bring suit in a federal court in Indiana to foreclose on the trust deed upon default in payment of principal and interest, such action being admittedly barred in the state courts of Indiana for failure of the mortgagee to comply with the applicable statutes relating to requirements for admission of foreign corporations to do business in that state. See Burns Indiana Statutes 1926, §§ 4909 and 4918. A foreclosure suit had previously been brought in a state court,…