Hatfield v. Lamb

Hatcher, President:

The director of an insolvent bank seeks priority for a claim against the bank by virtue of a transaction between him and the bank’s president, shortly before the bank closed. The circuit court sustained the director, and the receiver of the bank appealed.

The facts are not in dispute. The plaintiff, Robert P. Hatfield, was elected a director of Huntington Banking & Trust Company in January, 1932, and remained a director continuously until the bank was officially closed on April 7, 1933. Its insolvency at the latter date is conceded. At the January, 1932 meeting of the board…