In re Pittelkow
District Court, E.D. Wisconsin
In Bankruptcy. On petition by the trustee for an order restraining the commencement of foreclosures by mortgagees, and for authority to sell the various parcels of real estate free of incumbrances, preserving the rights of all lien claimants against the proceeds.
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In Bankruptcy. On petition by the trustee for an order restraining the commencement of foreclosures by mortgagees, and for authority to sell the various parcels of real estate free of incumbrances, preserving the rights of all lien claimants against the proceeds. The petition states the appraised value of the real estate, comprising numerous parcels, at $107,000, and the aggregate amount of mortgages at about $80,000; that there are 39 separate mortgages, and immediate foreclosure suits are threatened, of which the expense would aggregate several thousand dollars; that the claims of unsecured…
1Opinion of the Court
SEAMAN, District Judge.
Upon the general question of jurisdiction, I am of opinion that the district court is vested with exclusive jurisdiction over the property of the bankrupt, and with sufficient equity powers to have all claims by mortgagees brought in and administered; that sales may be authorized, under proper circumstances, free and clear from the mortgages, or other liens, by preserving and transferring the claims to the fund thus provided; and that the commencement of foreclosure proceedings can be restrained to that end. The decisions under the bankrupt acts of 1841 and 1867 clearly…
2Cases cited14 opinions
- Ex Parte City BankSupreme Court of the United States · 1844
- Ray v. NorseworthySupreme Court of the United States · 1875
- Factors' & Traders' Insurance v. MurphySupreme Court of the United States · 1884
- Carter v. HobbsDistrict Court, D. Indiana · 1899
- Houston v. City Bank of New OrleansSupreme Court of the United States · 1848
9 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Louisville Joint Stock Land Bank v. RadfordSupreme Court of the United States · 1935
- Isaacs v. Hobbs Tie & Timber Co.Supreme Court of the United States · 1931
- Straton v. NewSupreme Court of the United States · 1931
- Van Huffel v. HarkelrodeSupreme Court of the United States · 1931
- Southern Loan & Trust Co. v. BenbowDistrict Court, W.D. North Carolina · 1899
5 more not listed; retrieve them via the Exa API.