Weil v. Defenbach
Idaho Supreme Court
APPEAL from the District Court of the Eighth Judicial District, for Bonner County. Hon. R. N. Dunn, Judge. Action by receiver to recover from stockholders assets unlawfully withdrawn and distributed.
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APPEAL from the District Court of the Eighth Judicial District, for Bonner County. Hon. R. N. Dunn, Judge. Action by receiver to recover from stockholders assets unlawfully withdrawn and distributed. It was clearly the intention of the legislature in framing sec. 2979, Rev. Codes, to provide in substance that where the assets of the bank are not sufficient to pay its indebtedness or to liquidate its affairs, that then, and not until then, does the right of action against the stockholder accrue. (Wilson v. Book, 13 Wash. 676, 43 Pac. 939; McLaughlin v. O’Neill, 7 Wyo. 187, 51 Pac. 243; 10 Cyc.…
1Opinion of the CourtBudge, C. J.
This action was brought by appellant as receiver of the Traders’ State Bank against the respondents as stockholders. It appears that one Churchill obtained judgment against the bank on the 13th day of March, 1912, for $4,187.67. On the 18th of December, 1912, Churchill caused execution to be issued against the bank, which was returned January 7, 1913, with no property found. The judgment was assigned to one McCarthy. On March 1, 1913, application having been made therefor, appellant was appointed receiver with full power and authority to act in all matters necessary for the recovery from the…
2Cases cited11 opinions
- Martin v. ZellerbachCalifornia Supreme Court · 1869
- Chicago, Milwaukee & St. Paul Railway Co. v. Third National Bank of ChicagoSupreme Court of the United States · 1890
- Taylor v. BowkerSupreme Court of the United States · 1884
- Kohl v. LilienthalCalifornia Supreme Court · 1889
- Baltimore & O. Tel. Co. v. Interstate Tel. Co.Court of Appeals for the Fourth Circuit · 1893
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3Cited by13 opinions
- Smith v. Great Basin Grain Co.Idaho Supreme Court · 1977
- Esposito v. Noyes (In Re Lake Country Investments, Ltd. Liability Co.)United States Bankruptcy Court, D. Idaho · 2000
- Gantenbein v. BowlesOregon Supreme Court · 1922
- Weil v. DefenbachIdaho Supreme Court · 1922
- Nelson v. JonesIdaho Supreme Court · 1924
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