First National Bank v. Holley

The plaintiff brings this action as “Liquidating Agent” for the National State Bank of Mt. Pleasant. The defendants are former directors of the Rome Savings Bank. For the purpose of the discussion, it will be more convenient for us to refer to the National State Bank of Mt. Pleasant as the plaintiff in the case. No question is raised as to the authority of the First National Bank to maintain the action as “Liquidating Agent,” nor is any question made that the National State Bank is the party in interest. Out of an abundance of caution, counsel for the respective parties have discussed in…