In Re Century Theatre Co., Debtor, City of Milwaukee v. Title Guaranty Company of Wisconsin

KNOCH, Circuit Judge.

The debtor, Century Theatre Co., filed a petition for reorganization on September 13, 1954. The Court entered an order which, inter alia, restrained enforcement of liens against the debtor’s property. The debtor’s principal asset was a motion picture theatre, and the real estate on which it stood, in Milwaukee, Wisconsin. It was encumbered with mortgages aggregating §75,000.

City taxes for 1953 in the amount of $1,831.60 (plus interest) were delinquent and a lien on the realty. City taxes for 1954 in the amount of $2,254.02 became a lien on May 1,1954. The United States…