In re the New York Title & Mortage Co.

New York Supreme Court

In re the New York Title & Mortage Co.

166 Misc. 147, 2 N.Y.S.2d 154, 1937 N.Y. Misc. LEXIS 1168

DecidedJune 18, 1937

StatusPublished

This text of 166 Misc. 147 (In re the New York Title & Mortage Co.) is published on Counsel Stack Legal Research, covering New York Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

In re the New York Title & Mortage Co., 166 Misc. 147, 2 N.Y.S.2d 154, 1937 N.Y. Misc. LEXIS 1168 (N.Y. Super. Ct. 1937).

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Opinion

Frankenthaler, J

The provisions of the certificates and deposit agreement in this issue differ from those usually found in other issues. There is no provision that the title company may [148]*148itself own or hold certificates and, in addition, the provisions of paragraph 17 of article V of the depositary agreement tend to indicate that it was not intended to permit the title company to become a certificate holder with the same rights as other certificate holders. The present motion for an adjudication that the certificates owned or claimed to be owned by the title company and/or the Superintendent of Insurance as liquidator are subordinate to those held by certificate holders is granted. Settle order.

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Frankenthaler, J

The provisions of the certificates and deposit agreement in this issue differ from those usually found in other issues. There is no provision that the title company may [148]*148itself own or hold certificates and, in addition, the provisions of paragraph 17 of article V of the depositary agreement tend to indicate that it was not intended to permit the title company to become a certificate holder with the same rights as other certificate holders. The present motion for an adjudication that the certificates owned or claimed to be owned by the title company and/or the Superintendent of Insurance as liquidator are subordinate to those held by certificate holders is granted. Settle order.

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Bluebook (online)

166 Misc. 147, 2 N.Y.S.2d 154, 1937 N.Y. Misc. LEXIS 1168, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-the-new-york-title-mortage-co-nysupct-1937.