Merchants' & Farmers' Bank & Trust Co. v. Hammond Motors Co.

The Merchante’ & Farmers’ Bank .& Trust Company, receiver of the Hammond Motors Company, Inc., filed its final account on December 22, 192,7. After listing the privilege debts, the accountant showed a balance of $11,115.01 for distribution among the ordinary creditors holding claims amounting to $37,592.93, thus disclosing the defendant corporation to be insolvent. Among the ordinary debts listed and acknowledged was $4,900 (on which the dividend was $1,448.44) due the Pointe Coupee Trust & Savings Bank. Several oppositions were filed to the account; three of the opponents opposing generally…