Thornycroft Apartments, Inc. v. State Tax Commission

SWAN, Circuit Judge.

The appellant is the new corporation created pursuant to the plan of reorganization to take title to the debtor’s property. This consisted of real estate subject to a mortgage, upon which the mortgagee had started foreclosure prior to commencement of the reorganzation proceedings. The mortgagee had also taken possession under a voluntary assignment of rents. By order of January 7, 1935, the District Court continued the debtor in such possession of its property as it then had, and continued the mortgagee in possession of the mortgaged property under said assignment of…