Turner
Bank of America Nat. Trust & Savings Ass'n v. Turner
Opinion
Lead Opinion
Sawtelle, J.
March 21, 1932, the Bastanehury Corporation, Limited, a corporation, was, on. creditors’ involuntary petition, by the District Court adjudged a bankrupt, and on the same date the matter was duly referred to-Ben E. Tarver, one of the referees of the said court.
April 26, 1932, the trustee in bankruptcy of said estate filed a petition with said referee praying for the issuance to appellant, Bank of America National Trust & Savings Association, trustee under a certain trust indenture, of an order to show cause. The petition, inter alia, alleges that in the year 1923 the bankrupt, to secure a voluntary indebtedness in the sum of $1,500,000, executed a trust indenture in which the Heilman Commercial •Trust & Savings Bank was designated as trustee, hypothecating for the payment of said indebtedness the real and personal property therein described; that it is provided in-said trust indenture that in default thereunder said trustee might enter upon the said lands and premises and operate and manage and control same; that later the appellant became and is now the trustee under said indenture; that on January 25, 1932, said last named trustee, asserting that defaults as-provided in said…