Gross v. Irving Trust Co.

October 13,1931, the Court of Chancery of New Jersey, upon a bijl of complaint previously filed, appointed receivers for Crosby Stores, Inc. The receivers took possession of the assets located in New Jersey and operated the business. On October 14, 1931, an involuntary petition in bankruptcy against the corporation was filed in the federal district court for the Southern District of New York, and the Irving Trust Company was appointed receiver in bankruptcy by that court. The corporation was ad judged a bankrupt, and the trust company, was continued as trustee in bankruptcy arid later sold…