In Re Dissolution of Cordesman-Rechtin Co.

OPINION

By SHERICK, PJ.

On October 14, 1927, The Cordesman-Rechtin Company executed and delivered its note and mortgage to the apellant bank. The latter instrument conveyed thereby all its estate, title and interest in the premises in question, and also “all of the rents, issues and profits thereof.” It is the first and best lien thereon.

Thereafter on April 12, 1938, the mortgagor being then in default and in possession of the mortgaged premises, all of the stockholders of The Cordesman-Rechtin Company petitioned for a dissolution of the corporation and the appointment of a receiver to…