Corporations
In the Matter of the Liquidation of Lawyers Title and Guaranty Company; In the Matter of the Application of The Netacos Corporation for an Order Fixing the Rights and Priorities as between It, Lawyers Title and Guaranty Company and Reconstruction Finance Corporation, with Respect to Certain Guaranteed Mortgage Certificates in Mortgage No. "Q" 25088, Covering Premises Known as Nos. 231-237 Jackson Avenue, Long Island City, New York, and Guaranteed by Lawyers Title and Guaranty Company. The Netacos Corporation, Appellant; Louis H. Pink, Superintendent of Insurance of the State of New York, as Liquidator, etc., and Another, Respondents
262 A.D. 827·New York Supreme Court, Appellate Division·1941·NY
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Opinion
In the Matter of the Liquidation of Lawyers Title and Guaranty Company. In the Matter of the Application of The Netacos Corporation for an Order Fixing the Rights and Priorities as between It, Lawyers Title and Guaranty Company and Reconstruction Finance Corporation, with Respect to Certain Guaranteed Mortgage Certificates in Mortgage No. “Q” 25088, Covering Premises Known as Nos. 231-237 Jackson Avenue, Long Island City, New York, and Guaranteed by Lawyers Title and Guaranty Company. The Netacos Corporation, Appellant; Louis H. Pink, Superintendent of Insurance of the State of New York, as Liquidator, etc., and Another, Respondents.
[MAJORITY]
Order unanimously modified to provide that the right of the Superintendent of Insurance as liquidator to payment as owner and holder of certificate No. 3 is subordinate to the right of the appellant to payment as owner and holder of certificate No. 1, and as so modified affirmed, without costs. No opinion. Settle order on notice. Present — Martin, P. J., Untermyer, Dore, Cohn and Callahan, JJ.