Pilsbury v. Babington Bros.
Supreme Court of Louisiana
Appeal from Twenty-Sixth Judicial District Court, Parish of Washington; Joseph B. Lancaster, Judge. Action by E. Pilsbury, trustee of Robert Babington, Limited, against Babington Bros., Limited, to foreclose a mortgage. From a judgment in favor of the trustee, the Union Bank in liquidation appeals.
1Opinion of the CourtLand, J.
Babington Bros., Limited, executed a special mortgage in favor of Robert Babington, Limited, for $10,000, represented by two notes of $5,000 each, payable April 22, 1912, and April 22, 1913.
Robert Babington, Limited, was subsequently adjudicated a bankrupt, and among the assets of the estate taken over by his trustee was the first maturing note. The second maturing note was, prior to its maturity, acquired by the Union Bank, which is now in liquidation.
The trustee foreclosed the mortgage, and the property was sold for the price of $2,-001.
The trustee proposed to distribute the proceeds of the…
2Cases cited4 opinions
- Renshaw v. RichardsSupreme Court of Louisiana · 1878
- First Nat. Bank v. MayerSupreme Court of Louisiana · 1912
- Perot v. LevasseurSupreme Court of Louisiana · 1869
- Laplace v. LaplaceSupreme Court of Louisiana · 1891
3Cited by1 opinion
- Hibernia Bank & Trust Co. v. Succession of CancienneSupreme Court of Louisiana · 1917