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IN RE PRUDENCE CO.

No. 167.

96 F.2d 161 (1938)

In re PRUDENCE CO., Inc. In re AMALGAMATED PROPERTIES, Inc. BROOKLYN TRUST CO. v. CALLAGHAN et al.

Circuit Court of Appeals, Second Circuit.

April 11, 1938.

Attorney(s) appearing for the Case

Thomas Cradock Hughes and Emanuel Celler, both of New York City (Irving Rozen and Hubert Margolies, both of New York City, of counsel), for trustees of Prudence Co., Inc., debtor, appellees-appellants.

Cullen & Dykman, of Brooklyn, N. Y. (Ralph W. Crolly and Patrick J. Mahoney, both of Brooklyn, N. Y., of counsel), for Brooklyn Trust Co., appellant-appellee.

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

AUGUSTUS N. HAND, Circuit Judge.

On October 24, 1928, Prudence Company, Inc., was the owner of a consolidated first mortgage upon premises 107 West Eighty-Sixth street, borough of Manhattan, New York City. On August 2, 1929, Prudence Company, Inc., entered into an agreement with Realty Associates Securities Corporation reciting that Prudence Company, Inc., was the owner of a senior participation in the mortgage to the extent of $825,000, and Realty Associates Securities...

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