Florida Bank & Trust Co. of West Palm Beach v. Union Indemnity Co.

WALKER, Circuit Judge.

Each of the appellees was the surety on a bond given by the First American Bank & Trust Company, a Florida banking corporation, which, pursuant to statute (11 USCA § 101), was designated by the court below as a depository for the money of bankrupt estates; those bonds, pursuant to that statute, naming the United States as payee, and being given to secure deposits in that bank of funds of bankrupt estates. That bank became insolvent and a receiver was appointed to liquidate its assets for the benefit of creditors, the appellant being the successor' of such receiver. Prior…