Burket v. Reliance Bank and Trust Co.

Appellants seek reversal of the orders of the superior court of Cook county approving an arrangement whereby Martin T. O’Brien, as receiver of the Reliance Bank and Trust Company, agreed to accept from Walter S. Corbly $1000 in full satisfaction and compromise of his liabilities as a stockholder in that bank, whereas a decree of $20,000 and costs had been entered against him by that court in a creditor’s suit against stockholders. The court also approved a like arrangement between O’Brien and appellee Rubin Rappeport, whereby the sum of $1400 was agreed to be accepted as Rappeport’s liability…