Morris S. Bromberg and Holiday Lodge, Inc. v. Holiday Inns of America and Hioa, Inc.

MAJOR, Senior Circuit Judge.

This equitable action was instituted March 17, 1964, by Holiday Lodge, Inc., a bankrupt, and its President, Morris S. Bromberg, seeking a declaration that a motel located at 4800 Marine Drive, Chicago, Illinois, was subject to a constructive trust on the theory that it had been purchased by defendants in violation of a fiduciary relationship existing between plaintiffs and defendants. 1

The District Court, 278 F.Supp. 417 rendered a memorandum opinion which embodied its findings of fact, and concluded, “There would be no warrant for imposing a constructive trust…