Bankson v. Anderson

KNIGHT, District Judge.

On June 25, 1932, it was determined that the capital of the Chicago Bank of Commerce had become impaired and further carrying on of business was prohibited. On June 28, 1932, a receiver was appointed to liquidate the assets of the bank and distribute the assets among the creditors. In a representative action brought in the superior court of Illinois at the same time on behalf of all the creditors, another receiver was appointed to collect, receive, and distribute the amounts due from stockholders, under article 11, section 6, of the Constitution of the State of…