Rhode Island Hospital Trust Co. v. S. H. Greene & Sons Corp.

This is a bill in equity brought to foreclose a mortgage given by the respondent to the complainant as trustee to secure an issue of bonds to the number of three hundred and fifty, originally of the face value of $1,000 each, but later reduced by payments to the face value of $700 each. After decree of foreclosure the mortgaged property was sold and there remains in the hands of complainant something over $110,000 for distribution. Prior to the foreclosure of the mortgage, the property of the respondent had been placed in the hands of receivers on a stockholder’s petition. In the receivership…