In re Cichanowicz

DOOLING, District Judge.

The learned referee summed the case up as testing whether the chattel mortgage in question was like “the fabled Phoenix which when consumed by fire * * * rises in youthful freshness from its own ashes.” He held, upon the objection of the trustee in bankruptcy to the chattel mortgagee’s claim to recover the mortgaged property, that it was not, that, although it was security for present and future debts owed to the mortgagee, it nevertheless became “void” by its own terms when the debt was paid down to nothing and that it did not revive when new loans were later made by…