Citizens & Southern Bank v. Alexander
Supreme Court of Georgia
Intervention. Before Judge Hammond. Richmond superior court. December 22, 1915. The State of Georgia, through its attorney-general, filed its petition against the Irish-American Bank, of Richmond county, alleging, among other things, that the bank was insolvent, and praying that the court appoint a receiver to take charge of its assets and administer them for the benefit of creditors.
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Intervention. Before Judge Hammond. Richmond superior court. December 22, 1915. The State of Georgia, through its attorney-general, filed its petition against the Irish-American Bank, of Richmond county, alleging, among other things, that the bank was insolvent, and praying that the court appoint a receiver to take charge of its assets and administer them for the benefit of creditors. The court appointed a receiver who took charge of the assets of the bank and proceeded to marshal them, all creditors being notified to intervene and prove their claims. The Citizens and Southern Bank filed and…
1Opinion of the CourtGilbert, J.
(After stating the foregoing facts.) The sole question presented in this case is whether the trial court applied the proper rule for the distribution by the receiver of the assets of *75the insolvent bank. Counsel for both parties to the case frankly concede that the precise question is presented to this court for the first time. In the case of Georgia Seed Co. v. Talmadge, 96 Ga. 254 (22 S. E. 1001), it was held that the creditor, having funds of his debtor on deposit, could credit such funds on the debt, and then share as to the unpaid balance with other creditors in the general distribution…
2Cases cited5 opinions
- Merrill v. National Bank of JacksonvilleSupreme Court of the United States · 1899
- Chemical Nat. Bank v. ArmstrongCourt of Appeals for the Sixth Circuit · 1893
- Lowry Banking Co. v. Empire Lumber Co.Supreme Court of Georgia · 1893
- Georgia Seed Co. v. Talmadge & Co.Supreme Court of Georgia · 1895
- Strickland v. DentSupreme Court of Georgia · 1858
3Cited by8 opinions
- Old First National Bank & Trust Co. v. ScheumanIndiana Supreme Court · 1938
- Commissioner of BanksMassachusetts Supreme Judicial Court · 1922
- Estate of Prescott State BankArizona Supreme Court · 1931
- First Nat. Bank v. GreenSupreme Court of Alabama · 1930
- First National Bank of Seattle v. Mansfield State BankWashington Supreme Court · 1923
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