Lamb v. Abendroth

Tbe bill of complaint herein was filed by tbe receivers of tbe Metropolitan Trust Company to enforce tbe liability fixed by statute (3 Comp. Laws 1929, § 12024) of its stockholders under an order of tbe court therefor. Tbe claims filed with and allowed by tbe receivers amount to tbe sum of $1,262,198.24, of which $1,000,507.80 are in tbe nature of certificates of deposit. It appears that tbe appraised value of tbe assets of tbe company amounts to $968,246.39. It is tbe claim of the appellants that tbe trust company bad no power or authority under tbe statute or its charter to issue these…