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REALTY ASSOCIATES v. WOMEN'S CLUB

230 Or. 481 (1962)

369 P.2d 747

REALTY ASSOCIATES v. WOMEN'S CLUB ET AL, STATE LAND BOARD

Supreme Court of Oregon.

Reargued November 1, 1961.

Order denying petition to intervene reversed, decree of distribution modified and cause remanded February 28, 1962.

Petition for rehearing denied April 24, 1962.

Attorney(s) appearing for the Case

Catherine Zorn, Assistant Attorney General, Salem, argued the cause for appellant. With her on the brief was Robert Y. Thornton, Attorney General, Salem.

Lamar Tooze, Portland, argued the cause for respondents other than Portland Trust Bank. With him on the brief was William E. Tassock, Portland.

Before McALLISTER, Chief Justice, and WARNER, PERRY, SLOAN, O'CONNELL, GOODWIN and LUSK, Justices.

ORDER DENYING PETITION TO INTERVENE REVERSED.

DECREE OF DISTRIBUTION MODIFIED AND CAUSE REMANDED.

LUSK, J.

The plaintiff, Realty Associates of Portland, Oregon, a corporation (hereinafter called "the corporation"), commenced this suit in equity on November 15, 1945, for the purpose of obtaining an adjudication of the rights of its creditors and the winding up of its affairs.

With minor exceptions, the creditors were the holders of written obligations...

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