Willits v. Jencks Manufacturing Co.

This cause is before us on appeal of the receiver of the respondent corporation from a decree of the Superior Court directing him, after payment of certain prior preferences and before any payment to other creditors, to pay to the Industrial Trust Co. the sum of $1,773.60, due from said corporation to the City of Providence for taxes assessed as of June 15, 1932, which amount had been paid by the trust company.

The petition of the trust company, upon which the decree appealed from is based, alleges in effect that the trust company was the owner and holder of a first mortgage on certain real…