Legal Opinion
Attorney General v. Union Guardian Trust Co.
Michigan Supreme Court
Decided June 30, 1938No. Docket No. 76, Calendar No. 40,131PublishedCited by 1 opinion
1Opinion of the CourtSharpe, J.
Prior to the so-called “bank holiday” of February 14, 1933, the Union Guardian Trust Company had borrowed from the Reconstruction Finance Corporation certain moneys and on the above date was indebted to it in the sum of approximately $12,000,000 now bearing interest at three per cent, per annum with pledged assets of $31,000,000 as security for the loan.
Subsequent to the above bank holiday, the Union Guardian Trust Company was reorganized under the provisions of Act No. 32, Pub. Acts 1933, as amended by Act No. 95, Pub. Acts 1933 (Comp. Laws Supp. 1935, §§12077-1-12077-19, Stat. Ann. §23.91…
2Cases cited8 opinions
- Blades v. Hood Ex Rel. Savings Bank & Trust Co. of Elizabeth CitySupreme Court of North Carolina · 1932
- In Re Cashmere State BankWashington Supreme Court · 1932
- Lansing Drop Forge Co. v. American State Savings BankMichigan Supreme Court · 1935
- Attorney General v. Union Guardian Trust Co.Michigan Supreme Court · 1935
- Baird v. Forbes State BankNorth Dakota Supreme Court · 1933
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3Cited by1 opinion
- Russell v. Ann Arbor Trust Co.Michigan Court of Appeals · 1968