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LINCOLN-ALLIANCE BANK & TRUST CO. v. DYE

No. 126.

108 F.2d 38 (1939)

LINCOLN-ALLIANCE BANK & TRUST CO. v. DYE.

Circuit Court of Appeals, Second Circuit.

December 11, 1939.

Attorney(s) appearing for the Case

Charles Dickerman Williams, of New York City, for appellant.

Charles Van Voorhis, of Rochester, N. Y., for appellee.

Before L. HAND, AUGUSTUS N. HAND, and CLARK, Circuit Judges.

PER CURIAM.

The only question in this case is whether the bankruptcy court was obliged to allow the mortgagee to foreclose a mortgage upon the ship three weeks after a petition for reorganization of the mortgagor had been filed on April 17, 1939, under Chapter X of the Bankruptcy Act, 11 U.S.C. A. § 501 et seq. It is quite true that on the showing made there was little chance that any equity in the ship existed, or that the foreclosure could in the end be avoided...

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