Johnson v. People's State Bank

TUTTLE, District Judge.

This is a bill brought by the trustee in bankruptcy for the estate of Merle E. Wilt, bankrupt, against the People’s State Bank of Beaverton, Mich., and Homer E. Wilt, as trustee for the stockholders of such bank, to set aside, as fraudulent, a foreclosure sale under a chattel mortgage given by the bankrupt to said bank on which sale the bank purchased the mortgaged property for the amount of the debt secured by said mortgage.

The material facts, as disclosed by the evidence taken in open court and as found and determined by the court, may be stated sufficiently for the…