L. Maxcy, Inc. v. Walker

FOSTER, Circuit Judge.

On June 1, 1939, certain assets of Lake Nursery Company, bankrupt, consisting principally of a citrus grove of 165 acres, were sold at auction by the trustee, over the protest of appellant, L. Maxcy, Inc., which company held a mortgage on the property in the amount oí $61,685.24. The property was bid in by appellant for $52,-500. The referee ruled that appellant should pay to the trustee $8,953 as the cost of preserving the property and selling it and required appellant to deposit that amount in the registry of the court. The amount arrived at by the referee consisted of…