Lake v. Mudgett
Court of Appeals for the Sixth Circuit
Appeal from the 'District Court of the United States fo.r the Southern Division of the Western District of Michigan; Clarence W. Sessions, Judge. Suit by Arthur C. Rake against Alfred B. Mudgett and another, receivers of the Bear River Paper & Bag Company. From an order denying full payment of certain mortgage bonds, and directing payment of certain expenses incurred by the receivers, complainant appeals.
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Appeal from the 'District Court of the United States fo.r the Southern Division of the Western District of Michigan; Clarence W. Sessions, Judge. Suit by Arthur C. Rake against Alfred B. Mudgett and another, receivers of the Bear River Paper & Bag Company. From an order denying full payment of certain mortgage bonds, and directing payment of certain expenses incurred by the receivers, complainant appeals. Appeal from an order denying to appellant, Arthur O. Lake, full payment of certain mortgage bonds issued by the Bear River Paper & Bag Company in 1910, and directing that the expenses and…
1Opinion of the CourtWarrington, Circuit Judge
(after stating the facts as above). [1] 1. Appellant stands strictly upon the lien created by the mortgage. He admits that holders of bonds so secured may waive the lien, and indeed claims that all the holders of honds under the mortgage, except himself, have in fact waived the lien; but he insists that neither the acts of the other bondholders nor those of the trustee under the mortgage operated as a waiver of his lien. Appellant’s theory is that, having once obtained the benefit of the lien, he should not be deprived of it without his explicit consent. The basis of his position, as we…
2Cases cited5 opinions
- Union Trust Co. v. Illinois Midland Railway Co.Supreme Court of the United States · 1886
- Hanna v. State Trust Co.Court of Appeals for the Eighth Circuit · 1895
- International Trust Co. v. Decker Bros.Court of Appeals for the Ninth Circuit · 1907
- Doe v. Northwestern Coal & Transportation Co.U.S. Circuit Court for the District of Oregon · 1896
- In re J. B. & J. M. Cornell Co.District Court, S.D. New York · 1912
3Cited by2 opinions
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- Gregg Co. v. Utuado Sugar Co.District Court, D. Puerto Rico · 1918