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IN RE LANGER

No. 24664.

6 F.Supp. 651 (1934)

In re LANGER.

District Court, E. D. New York.

March 16, 1934.

Attorney(s) appearing for the Case

William Biel, of New York City (A. Norman Somers and Joseph I. Green, both of New York City, of counsel), for Davis Drug Stores, Inc.

Raphael S. Sternfield, of New York City (Edwin M. Slote, of New York City, of counsel), for Nathaniel Agris.

GALSTON, District Judge.

The referee found that the transaction between Agris and Shapiro & Greenstein was usurious, as it clearly was. The effect, however, of that conclusion inevitably taints the chattel mortgage held as security for the loan. To hold the loan itself void because it was usurious, and at the same time to permit the lender to avail himself of the collateral security, would present a most contradictory situation. If the transaction is void, it...

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