Clough v. Superior Equipment Corp.

The Chancellor:

When the receiver was appointed in this case on the ground of insolvency, the corporation was possessed of real estate encumbered by a mortgage. Its personal property had been levied upon on executions issued out of the Court of Common Pleas, New Castle County.

The receiver took possession of all the real and personal property and in due course sold the same under orders of this court. The proceeds are now in hand awaiting distribution. The real estate brought considerably less than the amount due on the mortgage. How much, if any, the proceeds of the personal property fall…