Legal Opinion
In re Arcadia Trust Co.
Appellate Division of the Supreme Court of the State of New York
Decided January 24, 1934PublishedCited by 3 opinions
1Opinion of the CourtThompson, J.
This is an appeal from a final order determining that certain personal trust accounts in appellant, Arcadia Trust Company, in liquidation, are entitled to priority of payment, and we reach the conclusion that the preferences granted are authorized by subdivision 8 of section 188 of the Banking Law.
When the bank closed its doors, it had assets in the sum of $3,564,989.37, of which $13,131.51 was in cash. The total of the claims in suit which have been allowed by the referee is $16,002.78. The books of the trust department as of the date of the closing of business showed cash credits in the…
2Cases cited8 opinions
- Importers & Traders' National Bank v. PetersNew York Court of Appeals · 1890
- Matter of International M. Co. (Broderick)New York Court of Appeals · 1932
- Blair v. HillAppellate Division of the Supreme Court of the State of New York · 1900
- Madison Trust Co. v. . Carnegie Trust Co.New York Court of Appeals · 1915
- Madison Trust Co. v. Carnegie Trust Co.Appellate Division of the Supreme Court of the State of New York · 1915
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3Cited by3 opinions
- City of Los Angeles v. Irving Trust Co.Court of Appeals for the Second Circuit · 1939
- City Bank Farmers Trust Co. v. PedrickDistrict Court, S.D. New York · 1947
- Driscoll v. FitchDistrict Court, S.D. New York · 1943