Detroit Trust Co. v. Furbeck

This is a suit wherein a declaratory decree is sought determining which of the claimants herein is entitled to repayment of money paid in satisfaction of an assessment against stockholders in the First National Bank-Detroit, a national banking association, which became insolvent. The trial court decreed that all of such repayments incident to stockholders’ assessments paid by or for the Croul estate should be made to the Croul estate. Plaintiff has appealed.

Liquidation of the bank’s assets together with paid stockholders’ assessments resulted in all claims of creditors, including depositors,…