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CARRIER CORPORATION v. J. E. SCHECTER CORPORATION

No. 419, Docket 29458.

347 F.2d 153 (1965)

CARRIER CORPORATION, American Radiator & Standard Sanitary Corporation, Sarco Company, Inc. and Sarcotherm Controls, Inc., Petitioners-Appellants, Cross-Appellees, v. J. E. SCHECTER CORPORATION, Debtor-Appellee and Cross-Appellant.

United States Court of Appeals Second Circuit.

Decided May 21, 1965.

Attorney(s) appearing for the Case

Schwartz, Weissberger & Leichter, New York City, for appellants; Herman N. Schwartz and Irving Ronald Storch, New York City, of counsel.

Levy, Levy & Ruback, New York City, for debtor-appellee; Robert I. Ruback and Gary L. Blum, New York City, on the brief.

Before LUMBARD, Chief Judge, and SWAN and KAUFMAN, Circuit Judges.

SWAN, Circuit Judge:

The legal issue presented by this appeal is whether certain funds held in a special account in a New York bank by J. E. Schecter Corporation, hereafter referred to as Schecter or the debtor, are trust funds. These funds were acquired as a result of the improvement of real property owned by Princeton University, located in Princeton, New Jersey, and called the "Engineering Quadrangle." The facts are stated...

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