Marine Midland Trust Co. of New York v. Irving Trust Co.

MACK, Circuit Judge.

On July 2, 1930, plaintiff, hereinafter called Marine, received from Broomhall, Killough & Co., Inc., broker, subsequently adjudicated bankrupt, a large block of stock as security for a loan under a broker’s day loan agreement. On October 15, 1930, the Irving Trust Company, hereinafter called trustee, as trustee in bankruptcy of Broomhall, Killough & Co., Inc., challenged the transfer as preferential in a suit in equity in this court against Marine. On October 20, 1930, the Eybro Corporation, hereinafter called Eybro, brought an action at law in this court in which it…