More v. Western Connecticut Title & Mortgage Co.

The defendant corporation, now in receivership, was engaged in the business, among other things, of loaning money on mortgages and issuing against them participation certificates. The manner in which it conducted its business and the nature of the participation certificates appear in our decision in More v. Western Connecticut Title & Mortgage Co., 128 Conn. 360, 23 Atl. (2d) 128. We there held that holders of participation certificates owned a share in the mortgage against which they were issued, subject to the terms and conditions of certain agreements made with reference to the respective…