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IN RE PRUDENCE CO.

No. 77.

93 F.2d 455 (1937)

In re PRUDENCE CO., Inc. In re AMALGAMATED PROPERTIES, Inc.

Circuit Court of Appeals, Second Circuit.

December 6, 1937.

Attorney(s) appearing for the Case

Ralph Montgomery Arkush, of New York City, for appellants.

Julius B. Sucher, of New York City, for trustee-appellee.

Before MANTON, L. HAND, and SWAN, Circuit Judges.

SWAN, Circuit Judge.

The debtors in these consolidated proceedings are the Prudence Company and its subsidiary corporation, Amalgamated Properties. The issue of certificates herein involved is known as the Worthco issue. The Prudence Company had guaranteed these certificates. They represented a senior participation of $590,000 in a first mortgage upon the Worth building, 493-495 Fulton street, Brooklyn, title to which was in Amalgamated Properties. After confirmation...

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