United States Fidelity & Guaranty Co. v. Borough Bank of Brooklyn
Appellate Division of the Supreme Court of the State of New York
Submission of a controversy upon an agreed statement of facts pursuant to section 1279 of the Code of Civil Procedure. The parties agreed upon the following facts: The plaintiff was and still is a foreign corporation, duly authorized to transact business in the State of New York. The defendant Borough Bank of Brooklyn was and still is a domestic money corporation, being a banking corporation.
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Submission of a controversy upon an agreed statement of facts pursuant to section 1279 of the Code of Civil Procedure. The parties agreed upon the following facts: The plaintiff was and still is a foreign corporation, duly authorized to transact business in the State of New York. The defendant Borough Bank of Brooklyn was and still is a domestic money corporation, being a banking corporation. George 0. Van Tuyl, Jr., was, prior to the commencement of this action, duly appointed Superintendent of-Banks of the State of New York, entered upon the discharge of his duties and still continues in…
1Opinion of the Court
Jenks, P. J.:
This submission presents the question whether the plaintiff as subrogee of the State is entitled to assert the preference of the State in payment of a debt due the State from an insolvent, over other depositors and creditors who have not prior specific liens. The preference of the State was determined in Matter of Carnegie Trust Co. (206 N. Y. 390). The opinion in that case relieves me from discussion of that preference. I may note that this subject was examined also by many English judges in Giles v. Grover (1 Cl. & Fin. 72). The equitable doctrine of subrogation contemplates…
2Cases cited24 opinions
- Smith v. AlabamaSupreme Court of the United States · 1888
- Titus v. . Glens Falls Insurance CompanyNew York Court of Appeals · 1880
- Wheaton and Donaldson v. Peters and GriggSupreme Court of the United States · 1834
- United States v. RyderSupreme Court of the United States · 1884
- Hayes v. WardNew York Court of Chancery · 1819
19 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- United States F. & G. Co. v. BramwellOregon Supreme Court · 1923
- Wyoming Building & Loan Ass'n v. Mills Const. Co.Wyoming Supreme Court · 1928
- Fidelity & Deposit Co. v. Sholtz Ex Rel. Duval CountySupreme Court of Florida · 1935
- In Re Estate of DavisSupreme Court of Vermont · 1966
- People ex rel. Nelson v. Chicago Lawn State BankAppellate Court of Illinois · 1940
3 more not listed; retrieve them via the Exa API.