No. 516, Docket 74-2177.

514 F.2d 400 (1975)

In re KINGSBORO MORTGAGE CORP. BANKERS LIFE CO., Appellee, v. MANUFACTURERS HANOVER TRUST CO. and Howard F. Sunshine, Trustee in Bankruptcy, Appellants.

United States Court of Appeals, Second Circuit.

Decided April 3, 1975.

Attorney(s) appearing for the Case

Henry Landau, Simpson, Thacher & Bartlett, New York City, for appellant Manufacturers Hanover Trust Co.

Samuel R. Rudey, Weisman, Celler, Spett, Modlin & Wertheimer, New York City, for appellant-trustee.

William E. Kelly, New York City (James M. Shaugnessy, Casey, Lane & Mittendorf, New York City, of counsel), for appellee.

Before LUMBARD, OAKES and TIMBERS, Circuit Judges.


We agree with the United States District Court for the Southern District of New York, John M. Cannella, Judge, reversing the decision of Bankruptcy Judge Edward J. Ryan, that under the subordination agreement here in question, the senior creditors are not entitled to be paid interest accruing after the date of bankruptcy through the date of payment of principal. Interest stops running against the bankrupt on the date of bankruptcy, § 63(a)...

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