In re E. Bement's Sons
Michigan Supreme Court
Appeal from Ingham; Wiest, J. Petition by the board of directors of E. Bement’s Sons for the voluntary dissolution of said corporation: On petition of the Detroit Trust Company, receiver, a refer-©nee to a commissioner was made. Prom an order overruling exceptions • to the report of the commissioner, the State Bank of Michigan and the Old National Bank of Grand Rapids appeal.
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Appeal from Ingham; Wiest, J. Petition by the board of directors of E. Bement’s Sons for the voluntary dissolution of said corporation: On petition of the Detroit Trust Company, receiver, a refer-©nee to a commissioner was made. Prom an order overruling exceptions • to the report of the commissioner, the State Bank of Michigan and the Old National Bank of Grand Rapids appeal. The proceeding is one to wind up the affairs of an insolvent corporation, voluntarily dissolved, in the course of which the Detroit Trust Company was appointed receiver. By a stipulation of counsel, the appeals of the…
1Opinion of the CourtOstrander, J.
(after stating the facts). The disagreement of counsel as to the application here of the rule that the creditor may have dividends only upon the amount of the claim as proved, but may, out of any separate estate, held as security, realize any balance of prin*533cipal unpaid by dividends and, also, interest upon such principal, does not require, in view of our determination of the principal question presented, any comment beyond this: The commissioner has not, in his computation, in which he applies the total sum received from collateral to the amount of the demand as proved, recognized or given…
2Cases cited6 opinions
- Merrill v. National Bank of JacksonvilleSupreme Court of the United States · 1899
- Chemical Nat. Bank v. ArmstrongCourt of Appeals for the Sixth Circuit · 1893
- People v. E. Remington & SonsNew York Court of Appeals · 1890
- In re BatesIllinois Supreme Court · 1886
- Third National Bank v. HaugMichigan Supreme Court · 1890
1 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Detroit Trust Co. v. Detroit City Service Co.Michigan Supreme Court · 1933
- Pintsch Compressing Co. v. Buffalo Gas Co.Court of Appeals for the Second Circuit · 1922
- Hannigan v. Italo Petroleum Corp. of AmericaSuperior Court of Delaware · 1935
- State Ex Rel. Rankin v. Yellowstone Bank & Trust Co.Montana Supreme Court · 1925
- Metompkin Bank & Trust Co. v. BronsonSupreme Court of Virginia · 1939
3 more not listed; retrieve them via the Exa API.