Opinion
No. 420.
August 7, 1934.
Appeal from the District Court of the United States for the Northern District of New York.
In the above suit, brought by the holders of guaranteed certificates aggregating $5,000 in certain bonds and mortgages deposited with Lawyers' County Trust Company of New York, payment whereof was guaranteed by Lawyers' Title Guaranty Company, an interlocutory order was made, appointing trustees pendente lite of said bonds and mortgages and directing the defendants, other than the Lawyers' County Trust Company of New York, to transfer, convey, and turn over all property held by Lawyers' Title Guaranty Company to such trustees, and restraining the superintendent of insurance from interfering with their possession and control. From this order the defendants Lawyers' Title Guaranty Company and superintendent of insurance appeal. There was an order of summons and severance as against the defendant Lawyers' County Trust Company of New York, and the other defendants were granted the right to appeal alone without joining it. Reversed.
Greenbaum, Wolf Ernst, of New York City (Lawrence S. Greenbaum, Morris L. Ernst, Samuel J. Schur, Theodore S. Jaffin, and Philip Levy, all of New York City, of counsel), for appellant George S. Van Schaick, Superintendent of Insurance of New York, as Rehabilitator of Lawyers' Title Guaranty Co.
Joseph Nemerov, of New York City (Joseph Nemerov and Maurice J. Dix, both of New York City, of counsel), for complainants-appellees and Bainbridge Colby, Edwin L. Garvin, John M. McGrath, and Nathan D. Shapiro, trustees.
Before MANTON, AUGUSTUS N. HAND, and CHASE, Circuit Judges.
It seems unnecessary to develop the law and facts applicable to this appeal in a separate opinion after what we have already said in Tolfree v. New York Title Mortgage Co. et al., 72 F.2d 702 and Jacoby et al. v. Bond Mortgage Guarantee Co. et al., 72 F.2d 420, the opinions in which are filed herewith. The principles announced in those decisions govern the present case, and the order granting a preliminary injunction and appointing temporary trustees is accordingly reversed, and the bill of complaint is ordered dismissed.