New York Life Insurance v. Guaranty Corp.

Opinion by

Mr. Justice Maxey,

On June 4, 1934, plaintiff entered against defendant, judgment in the sum of $1,387,807.30 on a bond secured by mortgage. At the sheriff’s sale, which followed in due course on July 2, 1934, of the real estate subject to the judgment, the property was sold to plaintiff for the sum of $75. On December 31, 1934, plaintiff filed a petition to fix the fair value of the property in accordance with the Act of J anuary 17,1934, P. L. 243, and on that same date presented said petition to the court. The court fixed the time of hearing as J anuary 28, 1935. A copy of the…