Smith v. Mosier
Michigan Supreme Court
Appeal from Van Burén; Des Voignes, J. Petition by W. B. Smith against William C. Mosier, receiver of J. L. Welch & Company, for an accounting, the cancellation of certain notes, and other relief. From a decree for defendant, petitioner appeals.
1Opinion of the CourtSteere, J.
On March 30, 1914, the private banking firm of James L. Welch & Co., a copartnership doing business, at Lawrence, Mich., under the name “Farmers’ & Merchants’ Bank,” being insolvent, closed its doors and w;ent into the hands of a receiver for liquidation. It was hopelessly insolvent as early as December 1, 1913, and later ascertained that its assets would not pay to exceed 35 per cent, of its liabilities. Defendant Mosier was appointed receiver and was yet serving as such when these proceedings were begun and heard.
Among the assets of the bank taken into possession by him as receiver were…
2Cases cited5 opinions
- Rothschild v. . MackNew York Court of Appeals · 1889
- Rickman v. RickmanMichigan Supreme Court · 1914
- City Bank & Trust Co. v. HurdMichigan Supreme Court · 1914
- Wisconsin Marine & Fire Insurance v. Manistee Salt & Lumber Co.Michigan Supreme Court · 1889
- Barnard v. Lapeer & Port Huron Plank Road Co.Michigan Supreme Court · 1859
3Cited by8 opinions
- H. D. Roosen Co. v. Pacific Radio Publishing Co.California Court of Appeal · 1932
- First National Bank v. FarsonNew York Court of Appeals · 1919
- Klingensmith v. James B. Clow & SonsMichigan Supreme Court · 1935
- In Re. American Slicing Machine Co.Supreme Court of South Carolina · 1923
- Gray v. Lincoln Housing TrustMichigan Supreme Court · 1924
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