Haugan v. Michalopoulos

Haugan, trustee named in a deed executed March 17, 1926, by John Michalopoulos, conveying real estate in Cook county to secure bonds of the principal amount of $300,000, filed his bill to foreclose said trust deed on November 23, 1932, alleging defaults in the payment of principal, interest, taxes and assessments. On November 8, 1933, the court after hearing motion for the appointment of a receiver, found the premises to be scant security for the indebtedness, and in lieu of such appointment directed that Michalopoulos be permitted to remain in possession upon executing a bond that he would…