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NORRITON EAST R. CORP. v. CENTRAL-PENN N.B.

435 Pa. 57 (1969)

Norriton East Realty Corporation v. Central-Penn National Bank, Appellant.

Supreme Court of Pennsylvania.

June 27, 1969.

Attorney(s) appearing for the Case

C. Laurence Cushmore, Jr., with him LeRoy E. Perper, and White and Williams, for appellant.

Samuel Kravitz, with him Ronald Kravitz, Harry Fuiman, and Kravitz & Kravitz, for appellee.

Before JONES, COHEN, EAGEN, O'BRIEN, ROBERTS and POMEROY, JJ.

OPINION BY MR. JUSTICE COHEN, June 27, 1969:

The appellee in this action of conversion is a corporation which was formed to build and operate an apartment building. In order to accomplish this purpose, it obtained several loans from appellant which were secured by three mortgages. Appellee experienced financial difficulties and at appellant's request assigned all leases and directed its rental agent to turn over all rents to...

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