Hill v. Western & Atlantic Railroad
Supreme Court of Georgia
Banks. Insolvency. Debtor and creditor. Statutes. Actions. Receivers. Officers. Assignments. Title. Bonajides. Trusts. Equity. Before Judge Marshall J. Clarke. Eulton superior court.
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Banks. Insolvency. Debtor and creditor. Statutes. Actions. Receivers. Officers. Assignments. Title. Bonajides. Trusts. Equity. Before Judge Marshall J. Clarke. Eulton superior court. March term, 1890. Hill and Thomson, as receivers of the Citizens’ Bank of Georgia, brought separate actions against the railroad company for $18,994.76, and the Gate City bank for $17,303.79, alleging as follows: The Citizens’ bank, on April 13, 1881, was doing a general banking business, and on and before that day was insolvent. It had numerous stockholders and creditors, two of its creditors being the…
1Opinion of the Court
Falligant, J.*
1. Section 4429 of the code (Act of 1833) is a special statute of the State of Georgia with reference to banks, intended to prohibit preferences by a bank insolvent at the time or in contemplation of insolvency, which preferences might be legal in the case of other insolvent debtors under the act of 1818.(a) In order for the receivers to maintain these suits, it was not necessary, as a condition precedent, that the president, directors or other officers consenting to such fraudulent transfers of effects, etc., should first be prosecuted.
2. When an insolvent bank executes an…
2Cited by4 opinions
- McGregor v. BattleSupreme Court of Georgia · 1907
- Clarke v. IngramSupreme Court of Georgia · 1899
- Booth v. Atlanta Clearing-House Ass'nSupreme Court of Georgia · 1909
- Twiggs County Bank v. McCallumCourt of Appeals of Georgia · 1929