In re Proposal or Plan by Mortgage Commission

Appellate Division of the Supreme Court of New York

In re Proposal or Plan by Mortgage Commission

255 A.D. 708, 5 N.Y.S.2d 552, 1938 N.Y. App. Div. LEXIS 4870

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

DecidedJuly 1, 1938

StatusPublished

This text of 255 A.D. 708 (In re Proposal or Plan by Mortgage Commission) 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 Proposal or Plan by Mortgage Commission, 255 A.D. 708, 5 N.Y.S.2d 552, 1938 N.Y. App. Div. LEXIS 4870 (N.Y. Ct. App. 1938).

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Opinion

Order denying motion for extension of time within which to file dissents to a plan of reorganization under the Mortgage Commission Act, reversed on the law, without costs, and motion granted. - In our opinion it was an improper exercise of discretion not to permit the dissents to be filed, particularly in view of the fact that the date for the hearing of objections and for passing upon the plan was adjourned and that upon the adjourned date, when the hearing was had, holders of upwards of forty per cent of the value of outstanding certificates dissented therefrom. Hagarty, Johnston, Adel and Close, JJ., concur; Lazansky, P. J., concurs in result.

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Order denying motion for extension of time within which to file dissents to a plan of reorganization under the Mortgage Commission Act, reversed on the law, without costs, and motion granted. - In our opinion it was an improper exercise of discretion not to permit the dissents to be filed, particularly in view of the fact that the date for the hearing of objections and for passing upon the plan was adjourned and that upon the adjourned date, when the hearing was had, holders of upwards of forty per cent of the value of outstanding certificates dissented therefrom. Hagarty, Johnston, Adel and Close, JJ., concur; Lazansky, P. J., concurs in result.

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Bluebook (online)

255 A.D. 708, 5 N.Y.S.2d 552, 1938 N.Y. App. Div. LEXIS 4870, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-proposal-or-plan-by-mortgage-commission-nyappdiv-1938.