Fidelity Trust Co. v. Colonial Trust Co.

GOODRICH, Circuit Judge.

This appeal involves a dispute between a bank (Colonial Trust Company, appellant) which is acting for all the shareholders of a defunct national bank, and another bank (Fidelity Trust Company) which is trustee under the will of a shareholder of the defunct bank who died prior to the happening of the events here related. The issues concern the proper distribution among the shareholders of funds available after the creditors and depositors had been fully paid. The individual shareholder’s trustee won in the court below.

A 100% assessment was made upon all the shareholders…