Hall v. Brackett
Supreme Court of New Hampshire
Debt, on the bond of the defendant Brackett, as treasurer of the Carroll County Five Cents Savings-Bank. The action is brought in the names of the plaintiffs as assignees of the bank in insolvency. The defendants object that the action should be brought in the name of the bank.
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Debt, on the bond of the defendant Brackett, as treasurer of the Carroll County Five Cents Savings-Bank. The action is brought in the names of the plaintiffs as assignees of the bank in insolvency. The defendants object that the action should be brought in the name of the bank. The defendants also object that Mr. Wiggin is disqualified from acting as counsel for the plaintiffs, by reason of having acted as commissioner in the insolvency proceedings to examine and allow the claims against the bank. They maintain that as commissioner he was required to determine the validity of certain claims…
1Opinion of the CourtSmith, J.
It is made the duty of the assignee of an insolvent bank to take possession of the property, rights, and credits of the bank, and demand, receive, sue for, and recover the same. G. L., e. 166, 14. Tbe statute is sufficient authority for bringing this action in the name of the assignees as such. All the property of the bank is held by them in trust. The legal estate is in them, and the equitable interest is in the creditors and depositors. The bank has been practically dissolved, except so far as may be necessary for the purpose of carrying into effect the objects of the assignment, and as a…
2Cited by1 opinion
- Bank Commissioners v. New Hampshire Trust Co.Supreme Court of New Hampshire · 1899