Lincoln-Alliance Bank & Trust Co. v. Dye

The order now on appeal is an aftermath of that which was before us in Lincoln-Alliance Bank & Trust Company v. Dye, 2 Cir., 108 F.2d 38. At that time we said that it lay in the discretion of the judge whether to allow the mortgagee to foreclose when the proceeding was only three weeks old. That, we thought, was scarcely long enough to determine that no “plan of reorganization” was possible. However, we concluded by saying: “we do not suggest that, in the absence of some very radically different change in the prospects, it would be justifiable to hold off the mortgagee any longer.” That was…