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IN RE F. & W. GRAND 5-10-25 CENT STORES

No. 285.

69 F.2d 807 (1934)

In re F. & W. GRAND 5-10-25 CENT STORES, Inc. IRVING TRUST CO. v. POSSART et al. POSSART et al. v. IRVING TRUST CO.

Circuit Court of Appeals, Second Circuit.

March 12, 1934.

Attorney(s) appearing for the Case

Mitchell, Taylor, Capron & Marsh, of New York City (Carl Taylor, George S. Mittendorf, Ramsey Clayton, and William F. Hamilton, all of New York City, of counsel), for creditor claimants.

Cravath, de Gersdorff, Swaine & Wood, of New York City (Frederick H. Wood and Joseph Day Lee, both of New York City, of counsel), for trustee in bankruptcy.

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

SWAN, Circuit Judge.

The creditor-claimants are owners of premises which they had leased to the bankrupt for a term of 30 years commencing May 1, 1931, at an annual rental of $32,000 payable in equal monthly installments in advance. Upon a petition filed July 14, 1932, their lessee was adjudicated a bankrupt. The lessors' proof of claim involves two distinct items. One is for loss of future rents in the sum of $117,144.24, being the difference (discounted) between...

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