Brunswick County v. . Trust Co.

This is an action brought by plaintiffs against defendants to recover $57,035 as a special deposit and trust fund. The action was originally brought against the North Carolina Bank and Trust Company subsequently Gurney P. Hood, Commissioner of Banks, was made a defendant. The defendants deny that the fund was a special deposit and trust fund, but the transaction was one of debtor and creditor.

It was admitted by the defendants that their only purpose was to have the court determine whether the plaintiffs had a priority over the general depositors of the bank to the extent of $57,035.00, and it…