Prudential Ins. Co. of America v. Flournoy

The Prudential Insurance Company of America obtained a judgment against a corporation named Alexandrine Courts, Inc., for $482,000, plus interest and attorneys’ fees, all 'secured by first mortgages on real estate belonging to the corporation. The sheriff seized the mortgaged property and advertised it for sale, for cash, in execution of the judgment. At the sale the property was adjudicated to the seizing creditor, the Prudential Insurance Company of America, for $235,000, being two-thirds of its appraised value. There being no pri- or mortgage or lien on the property, the $235,000, less the…