Merchants' Bank v. Chandler
Wisconsin Supreme Court
APPEAL from tbe Circuit Court for Fond du Lac County. This action was brought by the plaintiff in behalf of himself and such other creditors of the Bank of Fond du Lac as might elect to become parties thereto, against said bank and certain persons named as stockholders thereof.
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APPEAL from tbe Circuit Court for Fond du Lac County. This action was brought by the plaintiff in behalf of himself and such other creditors of the Bank of Fond du Lac as might elect to become parties thereto, against said bank and certain persons named as stockholders thereof. The complaint, after the -usual allegations as to the corporate existence and banking powers of said bank, alleges that in March, 1860, and at the time the liability hereinafter mentioned accrued, the stock of the bank was owned by certain persons, of whom a list is given, with the number of shares held by each.…
1Opinion of the Court
By the Court,
Dixoisr, C. J.
We held in the recent case of Cleveland v. The Marine Bank of Milwaukee and others, 17 Wis., 545, that the creditor of a bank might, without having obtained j udgment at law against the bank, resort to the equitable remedy provided by chap. 148, R. S., and might maintain an action in behalf of himself and all other creditors who might choose to become parties thereto, against the bank joint*437ly with the stockholders, to reach and appropriate the assets of the bank aüd enforce the liability of the stockholders. If a creditor before judgment may maintain the action, it…
2Cases cited3 opinions
- Slee v. BloomCourt for the Trial of Impeachments and Correction of Errors · 1822
- Belmont v. . ColemanNew York Court of Appeals · 1860
- Cleveland v. Marine Bank of MilwaukeeWisconsin Supreme Court · 1863
3Cited by9 opinions
- Harrigan v. GilchristWisconsin Supreme Court · 1904
- Eau Claire National Bank v. BensonWisconsin Supreme Court · 1900
- Gianella v. BigelowWisconsin Supreme Court · 1897
- Sleeper v. GoodwinWisconsin Supreme Court · 1887
- Booth v. DearWisconsin Supreme Court · 1897
4 more not listed; retrieve them via the Exa API.