Meister v. J. Meister, Inc.

Pursuant to an order of this court the receiver sold two tracts of land owned by the defendant company and known as the "Morris avenue tract" and the "Salem road tract," on which certain buildings had been erected and which constituted the sole assets of the corporation. The sale was made free and clear of certain mortgages, lien claims and other encumbrances which were in dispute. The total receipts of the receiver resulting from such sale amounted to $55,625, of which $38,125 was received from the Salem road tract and $17,500 from the Morris avenue tract. After payment out of these funds of…