Fokken v. Smith

Plaintiff brought this action to have an amount, which he claimed had been received by the defendant, State Bank & Trust Company, as the proceeds of a loan for the purpose of paying off a mortgage, declared to be a trust in possession of the superintendent of banks, who assumed charge of the defendant bank for the purposes of liquidation, two days after the money had been deposited for the purpose mentioned. Trial in the circuit court resulted in judgment in favor of the plaintiff, directing the payment of the amount received by the defendant bank from the plaintiff and interest thereon pro…