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PRUDENCE-BONDS CORP. v. STATE STREET TRUST CO.

No. 77, Docket 22138.

202 F.2d 555 (1953)

PRUDENCE-BONDS CORP. et al. v. STATE STREET TRUST CO. et al.

United States Court of Appeals Second Circuit.

Decided December 5, 1951.

Reargued April 15, 1952.

Decided March 3, 1953.

Attorney(s) appearing for the Case

Charles M. McCarty, New York City, George C. Wildermuth, Samuel Silbiger, Brooklyn, N. Y., and Nemerov & Shapiro, New York City, (Aaron Schwartz, New York City, of counsel), for appellants.

Peabody, Arnold, Batchelder & Luther, Boston, Mass., Milbank, Tweed, Hope & Hadley, New York City (Willard B. Luther, Boston, Mass., A. Donald MacKinnon, New York City, John S. Whipple, Boston, Mass., and William E. Jackson, New York City, of counsel), for appellees.

Before SWAN, Chief Judge, FRANK, Circuit Judge, and COXE, District Judge.

FRANK, Circuit Judge.

1. We assume, arguendo (1) that, to give the bankruptcy court jurisdiction, it was not necessary that the guaranty (or the proceeds of its enforcement) be part of the debtor's assets,1 and (2) that, in fact, the guaranty constituted part of the mortgaged property.2 Even so, we think the court, as a bankruptcy court, lacked jurisdiction on the facts here because (a) that jurisdiction could...

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