Pink v. Kayares Theatricals, Inc.

The question presented to the court on this motion is whether interest on a second mortgage is allowable to the respondent :n a proceeding under section 1077-c of the Civil Practice Act. This section provides in part: “ and if upon such application it shall appear to the satisfaction of the court that the mortgaged property during the six months prior to the application shall have produced a surplus over and above the taxes, interest and all other carrying charges, then the court may make an order directing the payment of such surplus or such part thereof as the court may determine to the…