Badaracco v. Gatti Paper Stock Corp.

On July 9th, 1932, the defendant, Gatti Paper Stock Corporation, was adjudged insolvent pursuant to provisions of the Corporation act (2 Comp. Stat. 1910 p. 1595 et seq.) and Richard A. Callahan, the respondent herein, was appointed receiver therefor. Part of defendant's property which came to the possession of said receiver were lands and premises situate in Hoboken, New Jersey, upon which the petitioner herein held mortgage liens aggregating $105,000. Part of said mortgaged premises were used by the defendant (and by the respondent after he was appointed receiver for said defendant) in the…