Real Estate Trust Co. v. Perry County Railroad

Citations

• 213 Pa. 57
• 62 A. 25
• 1905 Pa. LEXIS 373

Syllabus

<p>Railroads — Mortgage—Foreclosure—Decree of court — Estoppel—Laches.</p> <p>Whore purchasers of a railroad in a mortgage foreclosure proceeding have availed themselves of the permissive decree of the court to use bonds as purchase money, and the amount due upon the bonds has been specifically fixed by the court, and the purchasers relying upon the decree have purchased bonds therein designated, and applied them on their bid, received a deed for the property, formed a new corporation, and expended large sums of money, other bondholders who had full notice of the decree and proceedings thereunder, and of the action of the purchasers, have no standing, long after the transaction has been consummated, to petition the court to change the decree so as to correct an alleged inequality amongst the bondholders.</p>