In re People

This is a Schackno proceeding for the reorganization of series N-81 of guaranteed mortgage certificates issued by the New York Title and Mortgage Company. The certificates represent participating interests in a single first mortgage on a sixteen-story elevator apartment at 32 to 42 West Seventy-seventh street, New York city. The proposed plan calls for the administration of the mortgage by a trustee and also for the extension and modification of the mortgage.

That portion of the plan which relates to the selection of a trustee and the terms of the declaration of trust pursuant to which the…