Brownell v. National City Bank

IRVING R. KAUFMAN, District Judge.

This is an action under Section 17 of the Trading with the Enemy Act, 50 U.S. C.A.Appendix, § 1 et seq., for the enforcement of a vesting order and turnover directive issued by petitioner. After an answer had been interposed in the action, both parties moved for summary judgment. These motions are now before the Court.

In 1925 and in 1928 the respondent became the indenture trustee for a series of bonds under which Allgemeine Elektrieitats-Gesellschaft (hereafter “A.E. G.”), a German corporation, was obligor. In 1933 A.E.G. defaulted on these obli*62gations, and…