In re the Voluntary Dissolution of the Busch Brewing Co.
Appellate Division of the Supreme Court of the State of New York
Appeal by Charles D. Bigelow, as temporary receiver of the Busch Brewing Company, from an order of the Supreme Court, made at the Erie Special Term and entered in the office of the clerk of the county of Erie on the 26th day of July, 1898, permitting the Niagara River Brewing Company to proceed witli an action brought by it against the Busch Brewing Company for the foreclosure of a mortgage executed by the latter company, “ and from so much of said order as overrules the…
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Appeal by Charles D. Bigelow, as temporary receiver of the Busch Brewing Company, from an order of the Supreme Court, made at the Erie Special Term and entered in the office of the clerk of the county of Erie on the 26th day of July, 1898, permitting the Niagara River Brewing Company to proceed witli an action brought by it against the Busch Brewing Company for the foreclosure of a mortgage executed by the latter company, “ and from so much of said order as overrules the preliminary objection of the receiver to the granting thereof, and directs said receiver to retain certain moneys in his…
1Opinion of the Court
Hardin, P. J.:
Manifestly, the Special Term, upon the affidavits before it, found, as it was warranted in doing, that the property covered by the mortgage in the process of foreclosure was an inadequate security for the payment of the indebtedness secured thereby, and that the mortgagor was insolvent. Having reached that conclusion, the Special Term was warranted in holding that the mortgagee was entitled to the rents, issues and profits of the real estate covered by the mortgage.
In Smith v. Tiffany (13 Hun, 671) it appeared that the premises mortgaged were an inadequate security for the money…
2Cases cited9 opinions
- Throop v. Hatch Lithographic Co.New York Court of Appeals · 1891
- Hollenbeck v. . DonnellNew York Court of Appeals · 1884
- Rider v. . BagleyNew York Court of Appeals · 1881
- Astor v. TurnerNew York Court of Chancery · 1845
- In re the Directors of the Binghamton General Electric Co.New York Court of Appeals · 1894
4 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Fairchild v. Gray, New York County Courts1930
- Davidson v. The John Good Cordage & Machine Co.Appellate Division of the Supreme Court of the State of New York · 1901