Werner v. Crippen

The defendants were directors of the State Bank of Commerce of Brockport, N. Y. On December 1, 1931, the plaintiff, as trustee for the estate of George A. Werner, deceased, deposited $9,808.04 in the bank. On the evening of December 15, 1931, the directors, by resolution, requested the State Superintendent of Banks to take charge of the bank for the protection of depositors. On the morning of December 16, 1931, the Superintendent took charge of the bank which has been in the process of liquidation since that time, and all depositors, including the plaintiff, have been paid fifty-five per cent…