Reichert v. Fidelity Bank & Trust Co.

The Fidelity Bank & Trust Company is a Michigan corporation and prior to its insolvency it carried on a trust business and also a banking business, both commercial and savings. Because of insolvency it ceased doing business October 7, 1931, and receivers were appointed. Prior to the time of closing it acted in various trust capacities and received large sums of money incident to its trust business. It served as administrator of estates of deceased persons, as executor and trustee under testamentary instruments, and as guardian of various estates under orders of probate courts. Its trust…