Burrows v. Emery

This action was brought by plaintiff, receiver of the First State Savings Bank of Muskegon Heights, a Michigan banking corporation, against the individual defendants, stockholders of the Lumberman’s Securities Corporation, upon the theory that the corporate entity of the securities corporation should be disregarded and the defendants held jointly and severally liable for a 100 per cent, assessment levied by the commissioner of banking upon stock of the First State Savings Bank, 264 shares of which stood in the name of the Lumberman’s Securities Corporation, because the individual defendants…