Legal Opinion
Application of Realty Associates Securities Corp.
District Court, E.D. New York
Decided June 24, 1944No. 45024PublishedCited by 6 opinions
1Opinion of the Court
MOSCOWITZ, District Judge.
The Trustees have applied for instructions regarding a present distribution of excess, sterile cash as a part payment of principal to the debtor’s bondholders.
During the operation of the debtor’s business since September 28, 1943, when the petition was filed, the Trustees have come into possession of large sums of cash and had on hand on April 29, 1944, the sum of $844,239.99. In addition, they held securities which are legal investments for savings banks in the amount of $3,020,-595.25. This amount of liquid assets is considerably in excess of the sum which is…
2Cases cited5 opinions
- Central Hanover Bank & Trust Co. v. CallawayCourt of Appeals for the Fifth Circuit · 1943
- In re Central of Georgia Ry. Co.District Court, S.D. Georgia · 1942
- In re Central of Georgia Ry. Co.District Court, S.D. Georgia · 1942
- Irving Trust Co. v. Guaranty Trust Co.Court of Appeals for the Seventh Circuit · 1940
- Todd v. LippincottCourt of Appeals for the Third Circuit · 1919
3Cited by6 opinions
- In Re Merritt Lumber Co.District Court, E.D. Pennsylvania · 1971
- In Re Conroe Forge & Manufacturing Corp.United States Bankruptcy Court, W.D. Pennsylvania · 1988
- Brenham v. Deerfield Organization, Inc. (In Re Norman Industries, Inc.)United States Bankruptcy Court, W.D. Louisiana · 1979
- Contrarian Funds, LLC v. Westpoint Stevens, Inc. (In Re Westpoint Stevens, Inc.)District Court, S.D. New York · 2005
- Missouri Pac. R. Co. 5¼% Secured Serial Bondholders' Committee v. Thompson Farwell v. Thompson (Four Cases)Court of Appeals for the Eighth Circuit · 1952
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