In re Realty Associates Securities Corp.

MOSCOWITZ, District Judge.

The debtor is in the process of reorganization under Chapter X of the Bankruptcy Act, 11 U.S.C.A. § 501 et seq. The trustees have applied for instructions concerning the policy to be followed by therti in their contemplated use of the debtor’s funds for the purchase of mortgages and have requested leave to use up to $200,000 for the purchase of mortgages of limited face value without requiring court approval for each individual transaction, it being proposed that a summary of the purchases made be submitted to the court at the end of three months or when $100,000 has…