Karasik v. People's Trust Co.
District Court, E.D. New York
In Equity. Suit by Louis Karasik and others, as trustees in bankruptcy of the Franklin Brewing Company, bankrupt, against the People’s Trust Company, individually and as trustee under a certain alleged mortgage.
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In Equity. Suit by Louis Karasik and others, as trustees in bankruptcy of the Franklin Brewing Company, bankrupt, against the People’s Trust Company, individually and as trustee under a certain alleged mortgage. Tills is an action by the trustees in bankruptcy of the Franklin Brewing Company to set aside an alleged mortgage for $450,000 made by the Franklin Brewing Company to the People’s Trust Company, as trustee, to secure the issue of certain bonds in like amount The grounds on which the validity of the mortgage is attacked are that no certificate of consent of the stockholders of the…
1Opinion of the CourtVeeder, District Judge
(after stating the facts as above). [1, 2] The validity of this mortgage is attacked on various grounds, which may be grouped as formal objections and objections which relate to the substantial merits. Considering the formal objections first, the complainants contend, in the first place, that the mortgage is invalid, because no certificate of consent of stockholders was filed in accordance with section 6 of the Stock Corporation Daw of this state. The statutory requirement is that the mortgage — ■
“shall be consented to by the holders of not less than two-thirds of the capital stock of the…
2Cases cited14 opinions
- People's Bank v. St. Anthony's Roman Catholic ChurchNew York Court of Appeals · 1888
- Caesar v. BernardAppellate Division of the Supreme Court of the State of New York · 1913
- Rochester Savings Bank v. . AverellNew York Court of Appeals · 1884
- Black v. . EllisNew York Court of Appeals · 1910
- Black v. EllisAppellate Division of the Supreme Court of the State of New York · 1908
9 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- In Re Anjopa Paper & Board Manufacturing Co.District Court, S.D. New York · 1967
- Matters v. Manufacturers' Trust Co.Court of Appeals for the Second Circuit · 1932
- In Re Riggi Bros. Co.Court of Appeals for the Second Circuit · 1930
- In Re Fred Stern & Co.Court of Appeals for the Second Circuit · 1931
- Commerce Trust Co. v. ChandlerCourt of Appeals for the First Circuit · 1922
18 more not listed; retrieve them via the Exa API.