Legal Opinion
Prudence Realization Corp. v. Geist
Supreme Court of the United States
Decided April 27, 1942No. 757PublishedCited by 132 opinions
1Opinion of the CourtChief Justice Stone
The question for our decision is whether an insolvent defaulting guarantor of certificates of participation in a mortgage, who is also the owner of a part of the mortgage indebtedness, is entitled to share pro rata in a distribution of the proceeds of the mortgage in a § 77B bankruptcy-reorganization.
Prudence Company, petitioner’s predecessor, and a wholly owned subsidiary of New York Investors, Inc., loaned to Zo-Gale Realty Company $480,000 on its bond secured by a first mortgage on real estate. In 1925, Prudence Company put into execution a plan for selling participation certificates in…
2Cases cited29 opinions
- Erie Railroad v. TompkinsSupreme Court of the United States · 1938
- Pepper v. LittonSupreme Court of the United States · 1939
- Case v. Los Angeles Lumber Products Co.Supreme Court of the United States · 1939
- Board of Comm'rs of Jackson Cty. v. United StatesSupreme Court of the United States · 1939
- Prairie State Bank v. United StatesSupreme Court of the United States · 1896
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3Cited by132 opinions
- Brooklyn Savings Bank v. O'NeilSupreme Court of the United States · 1945
- In the Matter of Mobile Steel Company, Debtor. Elaine E. Benjamin v. Lester Y. Diamond, as Trustee in Bankruptcy for Mobile Steel, Inc.Court of Appeals for the Fifth Circuit · 1977
- Heiser v. WoodruffSupreme Court of the United States · 1946
- Sola Electric Co. v. Jefferson Electric Co.Supreme Court of the United States · 1942
- Maternally Yours, Inc. v. Your Maternity Shop, Inc.Court of Appeals for the Second Circuit · 1956
127 more not listed; retrieve them via the Exa API.