Sneve v. Hagen

In its facts and applicable law, this case does not differ from Bush v. Lien, 57 S. D. 501, 234 N. W. 29. The reorganized bank assumed only a portion of the liabilities of the suspended bank. The assets retained by the reorganized bank may have equaled or exceeded the amount of the liabilities assumed, and a recapitalization of the bank in fact may have resulted. At least we are not to presume that the superintendent of banks permitted a reinstatement of the bank with impaired capital. It does not appear from the findings of the trial court that the amount paid by the defendants was to…