Davison v. Krejci

In an action brought by the successor trustee to foreclose a trust deed given to secure an issue of bonds, a decree was entered finding there was due to complainant for its own use $1,745, which was a first lien on the premises; that there was due to holders of coupon No. 6, $1,040.18, which was a second lien, and to holders of bonds Nos. 3 to- 48, $35,857.27, which was a third lien. The decree also found there was due to the Universal Acceptance Corporation $7,700, secured by a junior trust deed which was subordinate to the liens of the trust deed foreclosed.

The decree directed in case…