Reichert v. Metropolitan Trust Co.

By order of the court on July 20,1931, Kenneth M. Stevens, petitioner, was appointed attorney for Scott E. Lamb and Charles A. Smith, receivers of the Metropolitan Trust Company. The trust company, which had been organized under laws of the State of Michigan, suspended business on June 18, 1931, and the permanent receivers were appointed in proceedings brought by the State banking commissioner. At this time the books of the company showed assets of $2,126,501.29, and liabilities of approximately $2,000,000. According to the appraisal filed a few months later, the assets were found to be worth…