IN RE UNITED CIGAR STORES CO.

No. 331.

70 F.2d 313 (1934)

In re UNITED CIGAR STORES CO. OF AMERICA. SALISBURY INV. CO. v. IRVING TRUST CO. et al. HALLORAN v. IRVING TRUST CO.

Circuit Court of Appeals, Second Circuit.

April 9, 1934.


Attorney(s) appearing for the Case

Kellogg, Emery & Inness-Brown, of New York City (Dean Emery, Douglas M. Black and George Koegler, all of New York City, of counsel), for Salisbury Investment Co.

Paul Williams, of New York City, for William J. Halloran.

Cravath, de Gersdorff, Swaine & Wood, of New York City (William D. Whitney, of New York City, of counsel), for Irving Trust Co. as Trustee in Bankruptcy.

Before MANTON, L. HAND, and AUGUSTUS N. HAND, Circuit Judges.


MANTON, Circuit Judge.

The United Cigar Stores Company of America, a New Jersey corporation, was adjudged a bankrupt on August 29, 1932. It leased a hotel in Salt Lake City, Utah, on November 12, 1919, from the appellant Salisbury Investment Company, for a term of years expiring December 31, 1940, with renewal privilege for 60 years more. The bankrupt agreed to demolish the existing buildings before January 1, 1936, and to build, within 20 months thereafter, new buildings...

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