New England Fiber Co. v. Bath Fiber Co.

This case arises out of a petition to enjoin foreclosure of a purchase money mortgage for $65,000 held by Bath Fiber Company on mill property in Bath, sold to the plaintiff New England Fiber Company in December 1968 for $90,000 pursuant to a purchase and sales agreement executed on July 1, 1968. The *573plaintiff New England Mica Company, controlling stockholder of New England Fiber Company, was obligated as guarantor of the latter’s mortgage to Concord National Bank of machinery purchased for the mill in July 1968. The venture was unsuccessful. New England Mica Company suffered a net loss of…