IN RE PRUDENCE CO.

Nos. 27496, 27028.

24 F.Supp. 666 (1938)

In re PRUDENCE CO., Inc. Application of PRUDENCE SECURITIES ADVISORY GROUP. Application of CALLAGHAN et al.

District Court, E. D. New York.

April 20, 1938.


Attorney(s) appearing for the Case

Thomas Cradock Hughes and Emanuel Celler, both of New York City, for Trustees of Prudence Co., Inc., debtor.

Percival E. Jackson and Clinton T. Roe, both of New York City, for Prudence Securities Advisory Group.

Delafield, Thorne & Marsh, of New York City, for Hurd Committee.


MOSCOWITZ, District Judge.

This is a motion to confirm the report of the Special Master which found that certain funds of The Prudence Company, Inc., the debtor, were trust funds or funds upon which there existed an equitable lien, and therefore were not to be included in the general assets of the debtor.

The facts, which are not controverted, reveal that for an extended period prior to the "Banking Holiday" of March, 1933, the debtor entered into arrangements...

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