Marshall & Ilsley Bank v. Irving Trust Co.

SWAN, Circuit Judge.

Upon a petition filed on July 14, 1932, F. & W. Grand 5-10-25 Cent Stores, Inc., was adjudicated bankrupt, and the appel-lee subsequently qualified as its trustee in bankruptcy. In September, 1928, the bankrupt as lessee entered into a lease of certain premises in New-York City for a term ending December 31, 1948. In May, 1929', the bankrupt sublet the whole of said premises to Lemer Stores Corporation for a term ending one day short of its own term. The sub-lessee agreed to perform the lessee’s covenants under the original lease, and to pay to the bankrupt as “additional…