Wagner ex rel. Molner v. South Chicago Sav. Bank

EVANS, Circuit Judge.

A national bank receiver sold and assigned to appellee a $10,860 judgment which he obtained against appellant, based on the statutory bank stockholder’s liability. Appellant challenges the validity of such sale and assignment, contending that the statutory power of the receiver to “enforce the personal liability of the shareholders”1 does not include the power to sell and assign, this claim. Appellee, the assignee, purchased the bank’s assets (including stockholders’ liability judgments) in the receiver’s hands for $1,230. He instituted the instant garnishment proceedings…