In re the Receivership of National Building Loan & Provident Ass'n
Court of Chancery of Delaware
Statement of the Case. A receiver was appointed to wind up the affairs of the National Building Loan & Provident Association, and its assets including certain real estate were sold and collected.
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Statement of the Case. A receiver was appointed to wind up the affairs of the National Building Loan & Provident Association, and its assets including certain real estate were sold and collected. There were several judgments against the association, which were liens on its real estate; and there were four other classes of persons who had filed claims against the assets of the association, viz.: holders of withdrawal certificates, of full-paid certificates, of full-paid stock, and certificates of stock. The recommendation of the receiver was that the proceeds of the sale of the real estate be…
1Opinion of the Court
The Chancellor.
The questions to be decided were not raised or discussed until after an order had been made making a partial distribution of the assets of an insolvent building loan association. This distribution was made on the recommendation of the receiver after notice and without objection; but it should also be stated that it had not then been determined that the insolvency of the association existed from the beginning.
The first question to be considered is whether those members who before the appointment of the receiver recovered judgment against the association for money due them are…
2Cases cited2 opinions
- Trustees of Mutual Loan Ass'n v. TyreSuperior Court of Delaware · 1911
- State ex rel. Gray v. Phoenix Loan Ass'nMissouri Court of Appeals · 1900
3Cited by7 opinions
- Martin v. California Mutual Building & Loan Ass'nCalifornia Supreme Court · 1941
- Radalj v. Union Savings & Loan Ass'nWyoming Supreme Court · 1943
- Barrymore v. KempCourt of Appeals for the Ninth Circuit · 1934
- White v. WogamanArizona Supreme Court · 1936
- Cohen v. SwinkSupreme Court of Virginia · 1939
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