Chicago Title Trust Co. v. Randall

Full title: Chicago Title Trust Company, Trustee, Appellee, v. Thomas D. Randall et…

Court: Appellate Court of Illinois, First District

Date published: May 22, 1940

305 Ill. App. 497 (Ill. App. Ct. 1940)

27 N.E.2d 661

Opinion

Gen. No. 41,047. (Abstract of Decision.)

Opinion filed May 22, 1940

FORECLOSURE OF MORTGAGES, § 293.1^_ — reorganization. Trustee and members of bondholders' committee were not guilty of negligence in calling in bonds for deposit, instituting foreclosure proceedings, and effecting plan of reorganization, after taxes and some bonds were in default, and certain matured bonds were properly held to be on a parity where they had been acquired by owner for clients of his before or at maturity.

_ See Callaghan's Illinois Digest, same topic and section number.

Appeal from Circuit Court of Cook county; Hon. GEORGE F. RUSH, presiding.

Affirmed as amended. Heard in third division, first district, this court at December term, 1939.

Shulman, Shulman Abrams, for appellant;

Meyer Abrams, of counsel;

Gottlieb Schwartz, for appellees;

Harry E. Smoot, B.W. Friedman and A. Edmund Peterson, of counsel.

Opinion by JUSTICE BURKE.

"Not to be published in full." Opinion filed May 22, 1940.