People v. . American Loan Trust Co.
New York Court of Appeals
Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the first judicial department, entered May o, 1902, which modified and affirmed as modified an order of Special Term entered upon the report of a referee on a final accounting. The questions certified and the facts, so far as material, are stated in the opinion. The interest is incident to the debt and is entitled to the same preference.
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Appeal, by permission, from an order of the Appellate Division of the Supreme Court in the first judicial department, entered May o, 1902, which modified and affirmed as modified an order of Special Term entered upon the report of a referee on a final accounting. The questions certified and the facts, so far as material, are stated in the opinion. The interest is incident to the debt and is entitled to the same preference. It is to be computed at the rate of four per'cent to the time of demand, and at the legal rate of six per cent thereafter to the time of actual payment. (Matter of Fay, 6…
1Opinion of the CourtVann, J.
By the charter of the American Loan and Trust Company it was provided that “ in case of the dissolution of the said Company by the legislature, the Supreme Court or otherwise, the debts due from the Company as trustee, guardian, receiver or depositary of money in court or of savings banks’ funds shall have a preference.” (L. 1872, ch. 686; L. 1874, ch. 260, § 3.) Said company carried on business pursuant to its charter until the 18th. of February, 1.891, when the appellant savings banks demanded payment of their deposits which was refused, and thereupon it at. once closed its doors and the…
2Cases cited5 opinions
- Thomas v. Western Car Co.Supreme Court of the United States · 1893
- People v. Globe Mutual Life InsuranceNew York Court of Appeals · 1883
- In Re the Equitable Reserve Fund Life Ass'nNew York Court of Appeals · 1892
- People v. Commercial Alliance Life InsuranceNew York Court of Appeals · 1897
- People Ex Rel. Attorney-General v. Life & Reserve Association of BuffaloNew York Court of Appeals · 1896
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- Pennsylvania Steel Co. v. New York City Ry. Co.Court of Appeals for the Second Circuit · 1912
- Ticonic National Bank v. SpragueSupreme Court of the United States · 1938
- Golden Pacific Bancorp v. Federal Deposit Insurance CorporationCourt of Appeals for the Second Circuit · 2004
- Martyne v. . American Union Fire Ins. Co.New York Court of Appeals · 1915
- People v. . Metropolitan Surety Co.New York Court of Appeals · 1912
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