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IN RE CORN KELLY CORPORATION

No. 36684.

32 F.Supp. 572 (1939)

In re CORN KELLY CORPORATION.

District Court, E. D. New York.

March 22, 1939.

Attorney(s) appearing for the Case

William F. Kelly, of New York City, for debtor.

William C. Chanler, Corp. Counsel, by Henry Silverman, both of New York City, for mortgagee in charge of conduct and prosecution.

CAMPBELL, District Judge.

A petition for reorganization under Chapter 10, § 101 et seq., Bankr.Act, 11 U.S.C.A. § 501 et seq., has been filed by the debtor, from which it appears not that the debtor has two assets, but that in the alternative it has 1 of 2.

The first asset consists of real estate, which is vacant land, and from which no income is received. This property was purchased from the City of New York in 1927, which was the period when real...

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