Elkin v. Diversey Trust & Savings Bank

On June 13, 1931, the appellant C. F. Flkin, on behalf of himself and all other creditors of the Diversey Trust Savings Bank, an Illinois banking corporation, filed a bill in equity to enforce the constitutional liability of the stockholders in that bank. He alleged in the bill that before the commencement of business on June 13, 1931, the Auditor of Public Accounts of the State of Illinois made an examination of the bank to determine its financial condition and to ascertain whether it was being conducted in an illegal, fraudulent and unsafe manner; that as a result, the Auditor closed the…