Guaranty Trust Co. of New York v. Williamsport Wire Rope Co.

McLAUGHLIN, Circuit Judge.

The central issue on this appeal is whether a certain purported assignment of all the remaining claims of a corporation in receivership operated to transfer title to a subsequently adjudicated right to participate in damages for the redress of a fraud practiced upon the assignor many years earlier when it was the owner of particular stock certificates.

The corporation in receivership is the Lycoming Trust Company of Williams-port, Pennsylvania. The right to participate in damages is based upon that company’s ownership in July, 1936 of 175 shares of the preferred and…