Chiccaralli v. Love

This is an appeal from a decree in the liquidation proceedings of the insolvent Bank of Shelby denying the appellant the right to participate in a dividend declared by the appellee and about to be made by him to the creditors of the bank. The appellant’s petition alleges, and the appellee’s answer admits, that, when the bank became insolvent, it was indebted to Giaccaglia on a general deposit which he assigned to the appellant, who immediately notified the appellee thereof.

The appellee’s defense is that he holds a note executed to the bank by Giaccaglia made-prior to the assignment of his…