Mercantile Trust Co. v. United States Shipbuilding Co.

Citations

• 130 F. 725
• 1904 U.S. App. LEXIS 4843

Syllabus

<p>1. Foreclosure — Intervention by Bondholder.</p> <p>In a suit by a trustee to foreclose a mortgage given by a corporation to secure its bonds, all of tbe bonds being valid as against tbe corporation, a bolder of a part of the bonds will not be permitted to intervene before decree for sale for tbe mere purpose of litigating a claim to priority over other bondholders; that being a question which can be litigated before the master on application for distribution of the proceeds of the sale.</p>