New Jersey Title Guarantee & Trust Co. v. McBurney
Court of Appeals for the Third Circuit
Appeal from the District Court of the United States for the District of New Jersey; J. Warren Davis, Judge. In the matter of A. J. Ellis, Incorporated, bankrupt. From the referee’s disallowance of the deficiency claim of the New Jersey Title Guarantee & Trust Company, trustee for bondholders, opposed by E.E.
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Appeal from the District Court of the United States for the District of New Jersey; J. Warren Davis, Judge. In the matter of A. J. Ellis, Incorporated, bankrupt. From the referee’s disallowance of the deficiency claim of the New Jersey Title Guarantee & Trust Company, trustee for bondholders, opposed by E.E. McBurney, trustee, affirmed by the District Court (242 Fed. 156), the Trust Company appeals; and from an order of the District Court allowing William J. Sloane and another to amend the proof as to the claim, the trustee appeals.
1Opinion of the Court
McPHERSON, Circuit Judge.
These appeals have to do with successive phases of the same controversy. The undisputed facts are as follows:
In June, 1910, the bankrupt, A. J. Ellis, Incorporated, executed 200 bonds, each for $500, to the New Jersey Title Guarantee & Trust Company as trustee for the future holders. The bonds were 10-year 6 per cent, obligations, interest and principal payable at the trustee’s office in Jersey City, and were secured by a mortgage on real and personal property. If certain specified defaults should occur, the trustee was bound to foreclose if two-thirds of the bonds…
2Cases cited5 opinions
- In re RoeberCourt of Appeals for the Second Circuit · 1903
- In re A. J. Ellis, Inc.District Court, D. New Jersey · 1917
- In re McCarthy Portable Elevator Co.District Court, D. New Jersey · 1913
- In re McAuslandDistrict Court, D. New Jersey · 1916
- In re Standard Telephone & Electric Co.District Court, E.D. Wisconsin · 1911
3Cited by4 opinions
- Lane v. Equitable Trust Co.Court of Appeals for the Eighth Circuit · 1919
- In re LevinsonDistrict Court, W.D. Washington · 1924
- Greene v. BoothCourt of Appeals for the Ninth Circuit · 1924
- Matter of Paul R. Dean Co., Inc.District Court, W.D. New York · 1978