Security Trust Co. v. Bank of Bernice
Court of Appeals for the Fifth Circuit
Appeal from the District Court of the United States for the Western District of Louisiana; Aleck Boarman, Judge. Suit by the Security Trust Company and others against the Summit Lumber Company and another, to foreclose a mortgage, in which the Bank of Bernice intervened and claimed a share of the funds in the hands of the receivers. From a decree directing the receivers to pay a portion of the intervener’s claim, complainants appeal.
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Appeal from the District Court of the United States for the Western District of Louisiana; Aleck Boarman, Judge. Suit by the Security Trust Company and others against the Summit Lumber Company and another, to foreclose a mortgage, in which the Bank of Bernice intervened and claimed a share of the funds in the hands of the receivers. From a decree directing the receivers to pay a portion of the intervener’s claim, complainants appeal. This is an appeal from an order of the District Court for the Western District of Louisiana, entered in an intervention filed by the appellee, in a suit for the…
1Opinion of the CourtGrubb, District Judge
(after stating the facts as above). The appeal presents the question of the right of the appellee to be paid its-claim out of tire proceeds of the sale of logs and lumber, which came into the possession of the receivers, and which were disposed of by them. It does not appear from the record whether the mortgage, which was being foreclosed, included such logs or lumber or not. The receivers, under an order of court, claim to have paid the entire proceeds of such sales, and more, in satisfaction of labor claims due from the defendants at the time of the filing of the foreclosure suit, and claim…
2Cited by1 opinion
- Ryland v. Betty Joyce Lumber Co.Louisiana Court of Appeal · 1932