MacGregor v. Johnson-Cowdin-Emmerich, Inc.

MANTON, Circuit Judge.

JohnsonCowdin-Emmerieh, Ine., is a New York corporation, for which receivers in equity were appointed on May 5, 1927. They qualified and were acting as such when, on March 13, 1928, the appellant, a trustee under a mortgage to secure bonds, petitioned the court for leave to foreclose the same because of a default in the terms of the mortgage. The petition asked to institute and proseeute an independent suit of foreclosure. The receivers appeared and contested. The application was granted conditionally on April 28, 1928. The order entered provided, among other things:

“That…