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IN RE ALLEN

No. 482.

78 F.2d 680 (1935)

In re ALLEN et al. In re BROADWAY-BARCLAY CORPORATION.

Circuit Court of Appeals, Second Circuit.

July 15, 1935.

Attorney(s) appearing for the Case

Glass & Lynch, of New York City (Joseph Glass and Leslie Kirsch, both of New York City, of counsel), for appellant.

Brown & Falkinburg, of New York City (James F. Donnelly and Samuel Michelman, both of New York City, of counsel), for appellees.

Samuel L. Chess, of New York City, for minority group of bondholders.

Miller, Boston & Owen, of New York City (J. F. Gillis, of New York City, of counsel), for independent bondholders' committee.

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

SWAN, Circuit Judge.

Broadway-Barclay Corporation, hereafter called the debtor, is the owner of a large office and bank building located in New York City. This property is subject to a mortgage securing $6,383,500 of bonds upon which the debtor became in default. In October, 1932, the trustee under the mortgage took possession of the building by agreement with the debtor and has ever since collected the rents thereof pursuant to said agreement. In March, 1934, the...

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