In re the General Assignment for the Benefit of Creditors of Oakdale Woods, Inc.

The assignees for benefit of creditors by this motion seek to stay a foreclosure sale now scheduled for June 10,1960, and to have an order entered authorizing sale by the assignees free of the various liens and incumbrances to which the properties are subject. With respect to secured creditors subdivision 8 of section 15 of the Debtor and Creditor Law authorizes the court “ To allow secured creditors such sum only as to the court seems to be owing over and above the value of their securities.” The value of assets other than obligations for the payment of money which constitute the security is…