Reconstruction Finance Corp. v. Barrett

MINTON, Circuit Judge.

The plaintiff brought a representative creditor’s suit in equity against the stockholders of the Central Republic Trust Company to enforce the stockholders’ double liability. The original complaint filed November 19, 1934 alleged that Wilbur Sun-deen was the registered owner of 200 shares of stock of the bank on October 6, 1932, a date on which a large sum of money was advanced by the plaintiff to the bank. On May 1, 1937 a decree was entered against Sundeen for twenty thousand dollars, plus interest and costs, for the added liability as stockholder in said bank.

Thereafte…