PRUDENTIAL INS. CO. OF AMERICA
v.
LAND ESTATES, Inc. SAME
v.
PIETERS et al.
Circuit Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
March 18, 1940.
March 18, 1940.
Attorney(s) appearing for the Case
Clark & Reynolds, of New York City (Edward F. Clark, John A. Shorten, and Albert B. Gins, of New York City, of counsel), for appellants Prudential Ins. Co. of America and Frank X. Pieters.
Greenbaum, Wolff & Ernst, of New York City (Lawrence S. Greenbaum, Phillip F. Seigenfeld, Benjamin Kaplan, and Louis Kerr, all of New York City, of counsel), for appellees Milton M. Goldman, as receiver of Liberdar Holding Corp. and Land Estates, Inc.
William A. Shea, of New York City (Samuel Boksenbom and John B. Warner, both of New York City, of counsel), for appellee Superintendent of Insurance, as liquidator of New York Title & Mortgage Co.
Kramer & Kleinfeld, of New York City (Barnet Kaprow and David L. Weissman, both of New York City, of counsel), for Trustees of Series B-K.
Wagner, Quillinan & Rikfind, of New York City (Edward A. Tennant, Jr., of New York City, of counsel), for Trustees of Series F-1, and Series C.
Thomas Keogh, of New York City (Joseph L. Maged, of New York City, of counsel), for Trustees of Series Q.
Sherman S. Rogers, of New York City (Abraham J. Halprin, of New York City, of counsel), for Trustees of Series C-2.
Davidson & Mann, of New York City (Abraham J. Halprin, of New York City, of counsel), for Trustees of Series Q-1 and Series NS-1.
Abraham J. Halprin, of New York City, for Trustee of Series C-3.
Hetkin, Rubin & Hetkin, of New York City (Alfred H. Hetkin, of New York City, of counsel), for Trustees of Series B-1.
Meyer Boskey, of New York City, for Trustees of Series CW-1.
Charles L. Meckenberg, of New York City (Milton M. Meyer, of New York City, of counsel), for Trustee of Series D.
Albert W. Fribourg, of New York City (Louis M. Fribourg, of New York City, of counsel), for Trustee of Series N-76.
Olin Potter Geer, of New York City, for Trustee of Series A-2.
Davis, Polk, Wardwell, Gardiner & Reed, of New York City (James S. McNally, of New York City, of counsel), for Trustees of Series JL-1.
Jerome L. Greene, of New York City, for Trustee of Series S-1.
Cadwalader, Wickersham & Taft, of New York City (Charles N. Lowrie, Jr., of New York City, of counsel), for Trustee of Series C-1.
Sullivan, Donovan & Heenehan, of New York City (Lindley J. Murray, of New York City, of counsel), for Trustees of Series FW-1.
Before L. HAND, CHASE, and CLARK, Circuit Judges.
Circuit Court of Appeals, Second Circuit.
CHASE, Circuit Judge.
This appeal requires a decision as to whether or not secured creditors in an equity receivership in the District Court for the Southern District of New York may prove the face amount of their claims and be limited as to dividends to an amount not to exceed that less whatever may be realized upon their security in accordance with the so-called equity rule; or may prove only as in bankruptcy for the difference between the face of their claims and...
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