International Life Insurance v. Vaughan
Supreme Court of Arkansas
Appeal from Pulaski Chancery Court; John E. Martineau, Chancellor; STATEMENT BY THE COURT. This suit was instituted by the appellee, as receiver of the Valley Savings Bank, against appellant and others to cancel certain conveyances which he alleged constituted an unlawful preference in favor of certain creditors of the defunct bank. The facts are substantially as follows: The Valley Savings Bank was engaged in the banking and real estate business in the city of Argenta.
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Appeal from Pulaski Chancery Court; John E. Martineau, Chancellor; STATEMENT BY THE COURT. This suit was instituted by the appellee, as receiver of the Valley Savings Bank, against appellant and others to cancel certain conveyances which he alleged constituted an unlawful preference in favor of certain creditors of the defunct bank. The facts are substantially as follows: The Valley Savings Bank was engaged in the banking and real estate business in the city of Argenta. The International Life Insurance Company held certificates of deposit of the bank amounting to $9,000. In June, 1913, W. W.…
1Opinion of the Court
Wood, J.,
(after stating the facts). It could serve no useful purpose to set out in detail the evidence bearing upon the issue of the alleged insolvency of the bank at the time of the execution of the deed of trust in controversy. This issue was purely one of fact. The chancellor found that the Valley Savings Bank, at the time the conveyances in controversy were executed by it to the Southern Trust Company, as trustee, “was then and had been for some time prior thereto wholly insolvent, and that it was known to be so by its president, W. W. Hurst; that said conveyances of said real estate were…
2Cases cited8 opinions
- Dutcher v. . Importers Traders' Nat. BankNew York Court of Appeals · 1874
- Kells v. WebsterSupreme Court of Minnesota · 1898
- Merchants & Farmers Bank v. Harris Lumber Co.Supreme Court of Arkansas · 1912
- Wales-Riggs Plantations v. CastonSupreme Court of Arkansas · 1912
- Haskin v. JamesCalifornia Supreme Court · 1892
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Bodcaw Oil Co. v. Atlantic Refining Co.Supreme Court of Arkansas · 1950