Abingdon Bank Trust Co. v. Bulkeley

Full title: Abingdon Bank and Trust Company of Abingdon, Illinois, Appellant, v. H. C…

Court: Appellate Court of Illinois

Date published: Apr 27, 1944

323 Ill. App. 70 (Ill. App. Ct. 1944)

54 N.E.2d 889

Opinion

Gen. No. 9,950. (Abstract of Decision.)

Opinion filed April 27, 1944 Rehearing denied May 29, 1944

BANKING, § 170.1^_ — sufficiency of evidence to sustain judgment holding that directors of insolvent bank had satisfied their stockholders' liability. Where directors of insolvent bank executed notes in an amount representing their stockholders' liability, and aforementioned notes were transferred to bank which assumed liability of insolvent bank, judgment in proceedings against directors of insolvent bank, wherein directors were allowed credit for certain sums paid by them pursuant to liquidation of their liability on aforementioned notes, was sustained by evidence, and would be affirmed on appeal.

_ See Callaghan's Illinois Digest, same topic and section number.

Appeal from the Circuit Court of Knox county; the Hon. WILLIAM M. BARDENS, Judge, presiding.

Burrel Barash, for appellant.

Kenworthy, Harper, Sollo Graham, for appellees;

S.R. Kenworthy and R.G. Graham, of counsel.

Opinion by JUSTICE HUFFMAN.

Not to, be published in full. Opinion filed April 27, 1944; rehearing denied May 29, 1944.