Gillett v. Patterson
Gillett v. Patterson
Opinion of the Court
delivered the .opinion of the court.
For a full statement of the facts of this case reference is made to Gillett, Receiver, etc. v. Moore, 74 Colo. 484, 223 Pac. 21. The only difference between that case and this is that in the Moore Case the promissory note, which he gave for the invalid assessment on his shares, was paid by him to the bank before the receiver was appointed, while in this case the note which Patterson, before the receiver was appointed, gave for the assessment on his shares, has not been paid at all, but it came into the possession of the receiver as a part of the assets of the insolvent bank. In this case the findings were for the plaintiff and
The application for supersedeas is denied and the judgment of the district court is reversed and the cause is remanded, with directions to the lower court to vacate the same, and, in lieu thereof, to render a judgment in favor of the plaintiff against the bank for the amount of his note, to be paid by the receiver, if at all, only out of the remaining assets, if any, after all the general creditors, including the depositors, are paid in full, and' ratably out of such remaining assets with other paying shareholders of such invalid assessments, if any, as against, and in preference to, the non-paying shareholders.
Reference
- Full Case Name
- Gillett, Receiver v. Patterson
- Cited By
- 1 case
- Status
- Published