Walker v. Mutual Alliance Trust Co.
Supreme Court of Alabama
Appeal from Geneva Chancery Court. Heard before Hon. M. R. CHAPMAN. A. E. Walker, as State Superintendent of Banks, assumed control of the business of the Bank of Geneva, and made certain settlements with the debtors of the bank, and was proceeding to enforce his administration in the chancery court, whereupon the Mutual Alliance Trust Company filed a petition in said court seeking to enforce a lien on property received by Walker as Superintendent, in settlement of an…
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Appeal from Geneva Chancery Court. Heard before Hon. M. R. CHAPMAN. A. E. Walker, as State Superintendent of Banks, assumed control of the business of the Bank of Geneva, and made certain settlements with the debtors of the bank, and was proceeding to enforce his administration in the chancery court, whereupon the Mutual Alliance Trust Company filed a petition in said court seeking to enforce a lien on property received by Walker as Superintendent, in settlement of an indebtedness to the bank claiming to hold as collateral the notes and mortgages given by such debtors to the bank, and by the…
1Opinion of the CourtMayfield, J.
The Bank of Geneva is an Alabama corporation, engaged in the banking business at Geneva, Ala. In time it became heavily indebted, and not able to meet its engagements and duties promptly, if not actually insolvent. Its business was, on this account, taken charge and control of by the chancery court of Geneva county, by and through the agency of appellant, who is the superintendent of banks of Alabama, and upon whom is conferred powers and imposed duties to this end, *156by virtue of a statute. Appellee was among the large creditors of this bank, the bank securing its indebtedness to appellee by…
2Cases cited5 opinions
- O'Neal v. CooperSupreme Court of Alabama · 1914
- Henry v. HenrySupreme Court of Alabama · 1893
- Cobbs v. Vizard Inv. Co.Supreme Court of Alabama · 1913
- Potts v. First National BankSupreme Court of Alabama · 1893
- Coffey v. GaySupreme Court of Alabama · 1914
3Cited by7 opinions
- Kidder v. HallTexas Supreme Court · 1923
- Ex Parte Tennessee Valley BankSupreme Court of Alabama · 1936
- City Board of Education of Athens v. WilliamsSupreme Court of Alabama · 1935
- Jackson v. WhitesellSupreme Court of Alabama · 1925
- Clifton City Bank v. CommissionerUnited States Board of Tax Appeals · 1927
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