Matter of Powley v. Dorland Building Co.

The Borland Building Co., Inc., was organized in 1922 as a family corporation. The corporation commenced a foreclosure action on a second mortgage against Kalgreen Realty Corporation et al., defendants, on property in the borough of Brooklyn, New York city.' On November 28, 1931, Harry Strongin, the president of the plaintiff corporation, was appointed receiver of rents for the benefit of the plaintiff Borland corporation. His appointment was procured at the request and with the consent of the directors, officers and stockholders of the corporation.

On May 17, 1933, the Williamsburg Savings…