Prudential Ins. v. Land Estates, Inc.

An order entered approved a sale of property located in the borough of Brooklyn, city of New York, to the superintendent of insurance of the state of New York, as liquidator of the New York Title & Mortgage Company. The order appealed from denied an application to vacate the order of sale and to direct and require the receivers of Land Estates, Inc., to sell pursuant to 28 U.S.C.A. § 847. The Land Estates, Inc., is the wholly owned subsidiary of the New York Title & Mortgage Company and appellees have been appointed receivers. This corporation was used as an instrumentality to acquire and…