City Bank-Farmers Trust Co. v. Bank of United States

On April 30, 1928, plaintiff entered into a lease with the Colonial Bank, covering certain premises in New York city, to be used as a bank. The period of the lease was ten years, from May 1-, 1928, to October 1, 1938, at a graduated rental commencing at $19,000 per year and ending at $31,000 per year. The lessee subsequently was merged into the defendant Bank of United States, which took possession of the premises.

On December 11, 1930, the Bank of United States, which was then admittedly insolvent, was taken- over by the Superintendent of Banks pursuant to the provisions of the Banking Law.…