Krumpen v. Taylor

STATEMENT OF FACTS.

Eleven depositors of an insolvent bank prosecute this appeal to reverse a decree of the chancery court in which the sale of the assets of the insolvent bank by the State Bank Commissioner to a new bank organized for the purpose of purchasing said assets was approved and confirmed.

The material facts may be briefly stated as follows: On November 24, 1930, the First State Bank of Stuttgart closed its doors and placed itself in the hands of the Bank Commissioner for liquidation as an insolvent bank. Its liability to depositors when it closed its doors was something over…