Lucking v. Schram

ALLEN, Circuit Judge.

This appeal arises out of an action by the receiver of First National Bank-Detroit, an insolvent national bank, to enforce liability for an assessment levied upon the shareholders under Title 12, § 66, U.S.C., 12 U.S.C.A. § 66. Appellants counterclaimed, praying for rescission and equitable relief. The counterclaim sets forth that appellants, administrators of the estate of Alfred Lucking, through an exchange of twenty shares of stock of the Detroit & Security Trust Company, on February 7, 1930, acquired two hundred shares of stock of Detroit Bankers Company (hereinafter…