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PRUDENCE CORP. v. FERRIS

No. 137.

323 U.S. 650 (1945)

65 S.Ct. 539

89 L.Ed. 528

PRUDENCE REALIZATION CORPORATION v. FERRIS ET AL., TRUSTEES, ET AL.

Supreme Court of United States.

Decided January 29, 1945.

Attorney(s) appearing for the Case

Mr. Irving L. Schanzer, with whom Mr. James F. Dealy was on the brief, for petitioner.

Mr. Charles H. Kriger, with whom Mrs. Henrietta Kriger was on the brief, for Ferris et al., and Mr. Eugene Blanc, Jr., with whom Messrs. John Ross Delafield and Robert McC. Marsh were on the brief, for City Bank Farmers Trust Co. et al., respondents.

Messrs. Roger S. Foster and Milton V. Freeman filed a brief on behalf of the Securities & Exchange Commission, as amicus curiae, urging affirmance.

MR. JUSTICE FRANKFURTER delivered the opinion of the Court.

This action was brought in one of the courts of the State of New York to adjudicate conflicting claims against property held to satisfy a mortgage debt. The immediate controversy arises out of the reorganization in a United States district court of a large New York guaranty company, another phase of which was before us in Prudence Corp. v. Geist, 316 U.S. 89....

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