415 Fifth Avenue Co. v. Finn

SWAN, Circuit Judge.

This appeal questions the correctness of the District Court’s ruling that a landlord validly exercised an option to terminate the tenant’s lease. The debtor, which operates a chain of restaurants, in 1931 leased from the appellee’s predecessor in title the land and building located at 1551 Broadway. The lease was to run for a term ending May 1, 1947, and carried an annual net rental of $49,000.1 Paragraph 2 of the lease provided that “if a Receiver or Trustee be appointed for the Lessee’s property, and such Receivership or Trusteeship shall not be vacated within thirty…