Land Title Bank & Trust Co. v. Robinson

Finletter, P. J.,

Three funds are before us for distribution. They are the products of foreclosure sales of properties subject to the lien of mortgages given as security for issues of bonds. The sales have been confirmed, subject to the decision of the court upon the various questions of distribution hereinafter discussed.

1. The first question is whether or not bonds held by one who has guaranteed the payment of the principal and interest of the whole issue, shall be subordinated to the other bonds.

There can be no question on this subject in Pennsylvania, since the decision in Worrail’s…