UNIVERSITY CLUB v. NATIONAL SHAWMUT BANK OF BOSTON


348 Mass. 154 (1964)

202 N.E.2d 801

THE UNIVERSITY CLUB vs. THE NATIONAL SHAWMUT BANK OF BOSTON.

Supreme Judicial Court of Massachusetts, Suffolk.

December 3, 1964.


Attorney(s) appearing for the Case

Donal O' Callaghan for the plaintiff.

Stephen A. Moore for the defendant.

Present: WILKINS, C.J., SPALDING, WHITTEMORE, CUTTER, KIRK, SPIEGEL, & REARDON, JJ.


WILKINS, C.J.

Under date of January 1, 1936, the plaintiff club, a nonprofit corporation organized under G.L.c. 180, issued bonds secured by a second mortgage indenture under which the defendant bank agreed to act as trustee. A controversy having arisen as to the date upon which the club becomes entitled to the repayment of funds it paid to the bank, the club brings this bill for a declaratory decree under G.L.c. 231A. Certain bondholders who had not redeemed their...

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