Peters v. Union Trust Co.
Michigan Supreme Court
Appeal from Wayne; Donovan, Hosmer, Carpenter, and Brooke, JJ. Petition by Ernestine Peters against the Union Trust Company, receiver of the City Savings Bank of Detroit, and Harris & Tkroop, representing the commercial depositors of said bank, to establish a preference in certain securities in favor of tbe savings depositors. Prom a decree for petitioner, defendants appeal.
1Opinion of the CourtMontgomery, J.
In this proceeding the City Savings *323Bank has been found insolvent, and a receiver appointed to take charge of its assets and distribute the same among the creditors. The petitioner was a depositor in the savings department of the bank, and in this petition asks that, in the distribution of the assets, the investments made of the funds deposited with the savings department be held solely for the benefit of the depositors of savings funds; and the sole question presented is whether there are any ■assets as to which petitioner is entitled to this preference.
Section 27 of the general banking law…
2Cases cited3 opinions
- Board of Fire & Water Commissioners v. WilkinsonMichigan Supreme Court · 1899
- Sherwood v. Central Michigan Savings BankMichigan Supreme Court · 1894
- Ledyard v. HibbardMichigan Supreme Court · 1882
3Cited by8 opinions
- Upham v. BramwellOregon Supreme Court · 1922
- Reichert v. Farmers' & Workingmen's Savings BankMichigan Supreme Court · 1932
- Hodgell v. WildeWyoming Supreme Court · 1937
- Reichert v. Fidelity Bank & Trust Co.Michigan Supreme Court · 1932
- Bliss v. SlaterMichigan Supreme Court · 1906
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