Farmers National Bank & Trust Co. v. New Holland National Bank

Opinion by

Mr. Justice Linn,

In the Fall of 1931, the appellant, New Holland National Bank, made an agreement with the Farmers National Bank and Trust Company, also of New Holland, for the liquidation of the appellant. The agreement was finally concluded about 3 o’clock A. M. November 27th, at a meeting attended by the officers of both banks, most of the directors, a bank examiner representing the Banking Department of the Commonwealth and by counsel.1 The plan agreed to and sought to be carried out was to have the defendant turn over to the plaintiff all its assets of every kind together with…