First National Bank v. Bryn Mawr Beach Building Corp.

Subsequent to the entry of a decree of foreclosure and sale by the superior court an intervening petition was filed by a protective committee, after the term in which the foreclosure decree had been entered, to construe the terms of a deposit agreement, approve a plan of reorganization and confirm the foreclosure sale held in pursuance of the plan. Before the confirmation of the sale one of the nondepositing bondholders filed a petition asking that the foreclosure proceeding be consolidated with a suit for the liquidation of the mortgagor corporation which had been filed in the same court…