Matter of Superintendent of Banks
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered July 5, 1912, affirming two orders of Special Term. On April 9th, 1909, the state superintendent of banks took possession of the Binghamton Trust Company, which was then financially embarrassed.
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Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered July 5, 1912, affirming two orders of Special Term. On April 9th, 1909, the state superintendent of banks took possession of the Binghamton Trust Company, which was then financially embarrassed. During the process of liquidation the superintendent, through his representatives, received from the appellant an offer to purchase at the price of $9,000 and certain taxes a parcel of real property located in Binghamton, known as the Standard Food Company property, which then belonged to the…
1Opinion of the CourtWerner, J.
The petition of the state superintendent of hanks to the Supreme Court, praying for approval of the contract of sale to the appellant of the premises in question was made under the provisions of section 19 of the Banking- Law (Consolidated Laws, ch. 2). That section invests the superintendent with power to take possession of a banking’ corporation under specified conditions, and it provides that, with the approval of the Supreme Court, he may sell and dispose of the real and personal property of a corporation so taken over upon such terms as the court may direct. Upon the presentation of the…
2Cases cited5 opinions
- Graffam v. BurgessSupreme Court of the United States · 1886
- Tripp v. CookNew York Supreme Court · 1841
- Hale v. . ClausonNew York Court of Appeals · 1875
- Sowle v. ChampionIndiana Supreme Court · 1861
- Quick v. CollinsIllinois Supreme Court · 1902
3Cited by29 opinions
- Guardian Loan Co. v. EarlyNew York Court of Appeals · 1979
- Polish National Alliance of Brooklyn, U.S.A. v. White Eagle Hall Co.Appellate Division of the Supreme Court of the State of New York · 1983
- Lafayette Trust Co. v. . BeggsNew York Court of Appeals · 1915
- Chapman v. Guaranty State BankTexas Commission of Appeals · 1924
- Levine v. BerlinAppellate Division of the Supreme Court of the State of New York · 1974
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