John Hancock Mut. Life Ins. Co. v. Casey

This appeal raises the question whether the district court, after approval of a petition under Chapter X of the Chandler Act, 52 Stat. 840, 883, 11 U.S.C.A. § 501 et seq., has power to take possession of mortgaged premises, collect the rents and enjoin the mortgagee from interfering therewith by foreclosure or otherwise.

As was stated by the Circuit Court of Appeals in the Second Circuit, in the case of In re Franklin Garden Apartments, Inc., 2 Cir., 1941, 124 F.2d 451, 454, since the decision in Continental Illinois Nat. Bank & Trust Co. v. Chicago, R. I. & P. R. Co., 294 U.S. 648, 675, 55…