106 N.J. Eq. 21 | N.J. Ct. of Ch. | 1930
The complainant filed a bill to have the defendant decreed insolvent. A decree was entered accordingly and a receiver *22
appointed. The property of the defendant consisted of a parcel of land upon which were erected two uncompleted buildings which were subject to mortgages and other liens. The receiver was authorized by order of the court to sell said property subject to the operation of certain mortgage liens of Robert Broadman and Frederick C. Henn, assignees of Florence Sullivan, Franklin Mortgage Title Guaranty Company, and James Sapienza, and, by virtue of section 81 of the Corporation act (Revision of 1896), clear of other liens and encumbrances. The legality of such order was not questioned, and therefore the opinion of Vice-Chancellor Lewis in Passaic, c., Co. v. Eastside Holding Corp.,
I will advise a decree allowing compensation in the sum of $500 for the receiver and his counsel, and requiring the above-named mortgagees to contribute sufficient moneys, to be added to the amount now in the hands of the receiver, to make up *25 said sum of $500. If counsel cannot agree as to the proportionate share to be borne by their respective clients to meet such requirement I will determine the amount thereof on application to me therefor.