IN RE RIKER DELAWARE CORPORATION

No. 16725.

385 F.2d 124 (1967)

In the Matter of RIKER DELAWARE CORPORATION, a Delaware Corporation, et al., Debtors. James Talcott, Inc., Appellant.

United States Court of Appeals Third Circuit.

Decided October 17, 1967.


Attorney(s) appearing for the Case

W. Bradley Ward, Schnader, Harrison, Segal & Lewis, Philadelphia, Pa., (Schnader, Harrison, Segal & Lewis, William T. Hangley, Philadelphia, Pa., Hannoch, Weisman, Stern & Besser, Irwin I. Kimmelman, Newark, N. J., on the brief), for appellant.

Joseph Markowitz, Trenton, N. J. (Michael A. Zindler, Trenton, N. J., Benjamin Asbell, Camden, N. J., on the brief), for appellees-trustees.

Richard V. Bandler, Asst. Regional Adm'r, S.E.C., New York City, for Securities and Exchange Commission.

Before McLAUGHLIN, HASTIE and FORMAN, Circuit Judges.


OPINION OF THE COURT

HASTIE, Circuit Judge.

In a proceeding for corporate reorganization under Chapter X of the Bankruptcy Act, a mortgagee in possession of encumbered property of the debtor may be required to surrender that property to the court appointed trustee, as explicitly provided in section 257 of the Bankruptcy Act. 11 U.S.C. § 657. Questions are raised here concerning the principles which govern such a turnover and particularly whether a referee...

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