Clement v. Saratoga Holding Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant Empire Trust Company, on behalf of certain bondholders, from so much of an interlocutory judgment of the Supreme Court in favor of the defendant William J. Delaney, as receiver, etc., entered in the office of the clerk of the county of Saratoga on the 3d day of February, 1913, as adjudges that the respondent is entitled to all of the right, title and interest of the defendant Saratoga Holding Company in certain property described in the interlocutory…
Read the full summary
Appeal by the defendant Empire Trust Company, on behalf of certain bondholders, from so much of an interlocutory judgment of the Supreme Court in favor of the defendant William J. Delaney, as receiver, etc., entered in the office of the clerk of the county of Saratoga on the 3d day of February, 1913, as adjudges that the respondent is entitled to all of the right, title and interest of the defendant Saratoga Holding Company in certain property described in the interlocutory judgment and that the lien of the mortgage held by the Empire Trust Company, as trustee, is limited to the sum of…
1Opinion of the CourtKellogg, J.
Concededly the plaintiff was the owner of an undivided one-half of the property, and the controversy arises as to the distribution of the proceeds of the remaining half. The judgments determine, so far as it is important here to consider, that the Empire Trust Company, as a mortgage trustee, is entitled to a part of the proceeds on account of the Dupre-Bennett Company’s ownership of bonds of the Saratoga Holding Company, and that the receiver in bankruptcy of the holding company is entitled to the balance. The claims of the Empire Trust Company on account of the bonds held by the Illinois…
2Cases cited2 opinions
- In Re the Accounting of Van AlstyneNew York Court of Appeals · 1913
- Hirshfeld v. . FitzgeraldNew York Court of Appeals · 1898
3Cited by1 opinion
- Judson v. Three D Bldg. Corp.Appellate Division of the Supreme Court of the State of New York · 1963