Ernst G. W. Woerz, Respondent v. Charles A. Schumacher, Impleaded With Samuel Wasserman, as Receiver of the…

Summary

The Court affirmed the Appellate Division, holding that the trustees are entitled to interest on the sums they advanced and on their expenses under the compromise agreement, and that counsel fees may be awarded. The Court reasoned that the agreement, made under the direction of the Supreme Court, is not an ordinary contract and equity permits implied interest to fully indemnify the trustees.