IN RE SHAPIRO

No. 9182.

34 F.Supp. 737 (1940)

In re SHAPIRO. Petition of SCHUMACHER & SEILER, Inc.

District Court, D. Maryland.

August 14, 1940.


Attorney(s) appearing for the Case

Louis M. Silberstein, George E. Robinson, and Edward B. Sandler, all of Baltimore, Md., for petitioning creditors.

G. Ross Veazey, Cook & Markell, Daniel S. Sullivan, Jr., and C. Morris Harrison, all of Baltimore, Md., for Schumacher and Seiler.


CHESNUT, District Judge.

In the above bankruptcy case the Referee, on the petition of the trustee, set aside a $5,000 mortgage by the bankrupt to Schumacher & Seiler, Inc., because it was invalid as a mortgage for future advances under the Maryland Code, Article 66, section 2 which in part provides: "and no mortgage to secure future loans or advances shall be valid unless the amount or amounts of the same and the times when they are to be made shall be...

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