Manufacturers Trust Co. v. Calm Holding Corp.

In this proceeding under section 1077-c of the Civil Practice Act the owner appears and objects to submitting his books and records to the mortgagee for inspection upon the ground that no demand for the inspection was made prior to the commencement of the proceeding. It is urged that owners who are willing to co-operate and exhibit their records should not be compelled to bear the expense of a proceeding.

Prior to the amendment of section 1077-c of the Civil Practice Act in 1942 (L. 1942, ch. 790) the proceeding was to collect surplus produced during the six months prior to the application,…