Glass v. MacNaughton

A bill in equity was filed by plaintiff as receiver of American Home Security Bank, a Michigan banking corporation, against defendants herein seeking to set aside certain transfers of stock of the American Home Security Bank made by defendants John D. MacNaughton and Oscar E. Waer, under the provisions of 3 Comp. Laws 1929, § 11906 (Stat. Ann. § 23.14), and to recover an assessment liability against them as the owners of such stock under the provisions of Act No. 66, Pub. Acts 1929, as amended (Stat. Ann. § 23.1 et seq.) and Act No. 32, Pub. Acts 1933, as amended (Comp. Laws Supp. 1935, §…