In re a Plan of Readjustment, Modification & Reorganization of Rights of Holders of Mortgage Investments

Appellate Division of the Supreme Court of New York

In re a Plan of Readjustment, Modification & Reorganization of Rights of Holders of Mortgage Investments

262 A.D. 969, 30 N.Y.S.2d 224, 1941 N.Y. App. Div. LEXIS 6700

CourtAppellate Division of the Supreme Court of the State of New York

DecidedSeptember 29, 1941

StatusPublished

This text of 262 A.D. 969 (In re a Plan of Readjustment, Modification & Reorganization of Rights of Holders of Mortgage Investments) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

In re a Plan of Readjustment, Modification & Reorganization of Rights of Holders of Mortgage Investments, 262 A.D. 969, 30 N.Y.S.2d 224, 1941 N.Y. App. Div. LEXIS 6700 (N.Y. Ct. App. 1941).

Pincite

Opinion

The trustee of this certificated mortgage made an application to be permitted to enter into an extension agreement extending and [970]*970modifying the bond and mortgage. The Special Term denied the application. Order modified on the law and the facts so as to provide that the application be granted, and as so modified affirmed, without costs. The holders of 94.3 per cent of the certificates having consented to the extension and modification and no certificate holder having objected, in our opinion it was an improper exercise of discretion to deny the application. Lazansky, P. J., Johnston, Adel, Taylor and Close, JJ., concur. Settle order on notice.

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The trustee of this certificated mortgage made an application to be permitted to enter into an extension agreement extending and [970]*970modifying the bond and mortgage. The Special Term denied the application. Order modified on the law and the facts so as to provide that the application be granted, and as so modified affirmed, without costs. The holders of 94.3 per cent of the certificates having consented to the extension and modification and no certificate holder having objected, in our opinion it was an improper exercise of discretion to deny the application. Lazansky, P. J., Johnston, Adel, Taylor and Close, JJ., concur. Settle order on notice.

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Bluebook (online)

262 A.D. 969, 30 N.Y.S.2d 224, 1941 N.Y. App. Div. LEXIS 6700, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-a-plan-of-readjustment-modification-reorganization-of-rights-of-nyappdiv-1941.