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Articles 1 - 9 of 9
Full-Text Articles in Law
Bank Reorganization And Recapitalization In Michigan, Ellis B. Merry
Bank Reorganization And Recapitalization In Michigan, Ellis B. Merry
Michigan Law Review
On January 2, 1933, 420 state and 68 national banks were operating in Michigan. On February 13, the Governor of Michigan proclaimed a banking holiday for eight days which was extended in effect on February 22. On March 4, the President proclaimed a national banking holiday until March 9. Under the provisions of the President's proclamation lifting the national banking holiday, 198 state and approximately 30 national banks were reopened by the appropriate authorities as "sound" banks. State bank conservators assumed the management and custody of 215 state banks which did not open, on appointment by the Commissioner of the …
Constitutional Law - Bank Reorganization Legislation - Composition With Depositors And Other Creditors, Maurice S. Culp
Constitutional Law - Bank Reorganization Legislation - Composition With Depositors And Other Creditors, Maurice S. Culp
Michigan Law Review
Twenty States and the federal government now have laws permitting the reorganization and reopening of insolvent or failing banks. The usual statute provides for the reorganization of a bank upon some plan approved by a large majority of the general creditors of the institution; the plan must also have the approval of state banking officials and of a court of general jurisdiction, although the last is by no means a universal requirement. The reorganization, when approved, becomes binding upon all depositors and general creditors of the bank regardless of consent. By the terms of a few statutes, non-assenting creditors are …
Bills And Notes-Warranty Of Qualified Indorser -When Instrument "Valueless"
Bills And Notes-Warranty Of Qualified Indorser -When Instrument "Valueless"
Michigan Law Review
In an action based upon the vendor's warranty in the sale of a note as set forth in the N.I.L., sec. 65 (4), it being alleged that the maker was insolvent and the mortgaged property worth much less than the debt at the time of the transfer of the note and that both such facts were known to the transferor, held, a ruling sustaining a demurrer should be affirmed. Leekley v. Short, (Iowa 1933) 249 N. W. 363.
Bankruptcy - Suspension Of State Statutes Regulating General Assignments
Bankruptcy - Suspension Of State Statutes Regulating General Assignments
Michigan Law Review
An insolvent debtor made a voluntary assignment of. all his property to the defendants for the benefit of his creditors. The plaintiff, a nonassenting creditor, brought garnishment proceedings against the defendants, contending that the state statute governing general assignments had been suspended by the National Bankruptcy Act. The Wisconsin Supreme Court was of the opinion that only that portion of the Act which provides for a discharge of the assignor from his debts was suspended. On appeal to the United-States Supreme Court the decision was affirmed. Pobreslo v. Joseph M. Boyd Co., 287 U. S. 518, 53 Sup. …
Banks And Banking -Trust Funds - Deposits For A Special Purpose
Banks And Banking -Trust Funds - Deposits For A Special Purpose
Michigan Law Review
Plaintiff had an arrangement with defendant bank whereby receipts of certain of plaintiff's branch stores were to be deposited daily with defendant, and the latter was to transmit each day by draft to a bank in Pittsburgh for plaintiff's credit all sums in excess of a dormant balance of $2,000. Drafts covering two days' deposits were in process of transmission to the Pittsburgh bank when defendant bank was taken over by the Comptroller of the Currency. The deposits represented by these drafts were made at a time when defendant's officers and directors knew the bank to be insolvent, though negotiations …
Executors And Administrators - Administration Without Probate
Executors And Administrators - Administration Without Probate
Michigan Law Review
The plaintiff is the only heir of the decedent who died intestate. The defendant was in possession of certain assets of the deceased which had formerly been deposited with a bank, now insolvent. Plaintiff brought a bill in her own name to compel the defendant to turn over to her such assets. The Illinois statute providing for administration adds, "Provided, That when the heirs are residents of this State and the estate is solvent and without minor heirs and it is desired by the parties in interest. to settle the estate without administration this law shall not apply." Held, …
Banks And Banking--Insolvency--Preference Against Trust Company Executor For Funds On Deposit At Testator's Death, George W. Mcquain
Banks And Banking--Insolvency--Preference Against Trust Company Executor For Funds On Deposit At Testator's Death, George W. Mcquain
West Virginia Law Review
No abstract provided.
Insolvency Of The Defendant As A Basis Of Equity Jurisdiction In Tort Cases, Roy Mitchell Moreland
Insolvency Of The Defendant As A Basis Of Equity Jurisdiction In Tort Cases, Roy Mitchell Moreland
Kentucky Law Journal
No abstract provided.
Insolvency Of The Defendant As A Basis Of Equity Jurisdiction, Rawlings Ragland
Insolvency Of The Defendant As A Basis Of Equity Jurisdiction, Rawlings Ragland
Kentucky Law Journal
No abstract provided.