MATTER OF 165 BROADWAY BLDG., INC.


7 A.D.2d 897 (1959)

In the Matter of 165 Broadway Building, Inc., Respondent, for Approval of a Plan of Reorganization. New York Trust Company, Appellant; 165 Broadway Building First Mortgage Bondholders' Committee et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

February 3, 1959


Order unanimously affirmed, with $20 costs and disbursements to the petitioner-respondent on the facts and on the law and in the exercise of discretion.

It would have been proper for the Referee to receive expert testimony, if offered, as to (1) the highest price obtainable at a foreclosure sale, and (2) the maximum price obtainable for the premises in its present condition, on an all cash sale, in the open market, during the period required to process a foreclosure...

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