In re Mark Shoe Co.
In re Mark Shoe Co.
Opinion of the Court
The trustee in bankruptcy, and prior to his appointment an assignee for, the benefit of creditors, occupied premises of one Stone and continued thereon the business in which the -bankrupt had been engaged until the merchandise and fixtures were sold by the trustee under order of the referee. The property sold was subject to a chattel mortgage for $4,200 held by the Home National Bank. The referee found the mortgage to be valid to the extent of $570.95. The sale was made free from all liens, and lien of the mortgagee was transferred to the proceeds. These proceeds amounted to $1,015, and'the amount now in the hands of the trustee is $634.12. A claim for rent amounting to $715 is presented by an assignee of the lessor. While the amount due on the mortgage and the amount of the rent have been matters of dispute, no question is now raised regarding either of these amounts. The lessor’s assignee contends that the rent should be borne in part by the mortgagee, on the ground that it was
In view of this finding of the referee T do not think the cases cited by the trustee warrant a reversal of the order of the referee directing the trustee to pay over to the Home National Bank the sum of $570.95, and this order is affirmed.
Reference
- Full Case Name
- In re MARK SHOE CO.
- Status
- Published