Federal Trust Co. v. Cohen

On this appeal a single question is presented — and that a legal one. The facts are not in dispute.

The appellant was a creditor of decedent on certain notes, and also held securities pledged with it by decedent as collateral security for the payment of his indebtedness. Upon his death his estate was duly decreed insolvent by the orphans court. Appellant filed its claim for the full amount of the debt due it, without crediting thereon the value of the security held by it (which value was duly ascertained and is not in dispute).

The decree brought up by this appeal denies the right of the…