U.S. Court of Appeals for the Fourth Circuit, 1913

Boyce v. Southern Nat. Bank of Wilmington

U.S. Court of Appeals for the Fourth Circuit · Decided February 20, 1913 · Boyd, Dayton, Goff

203 F. 698; 122 C.C.A. 82; 1913 U.S. App. LEXIS 1198

Counsel

Iredell Meares, of Wilmington, N. C. (George F. Meares, of Wilmington, N. C., Adam B. Dittlepage, of Charleston, W. Va., Herbert McClammy, of Wilmington, N. C., and Robert B. Scarborough, of Conway, S. C„ on the brief), for appellants., Benjamin H. Rutledge, of Charleston, S. C. (Mordecai & Gadsden and Rutledge & Hagood, both of Charleston, S. C., on the brief), for appellees.

Cases that cite this one

1 later published case cites this decision.

Willcox v. Southern Nat. Bank (4th Cir. 1914)

This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.

Opinion of the Court

PER CURIAM.

The assignments of error are many; those requiring consideration are few. The jurisdiction of the court below was questioned, but in effect was conceded during the argument. The decree appealed from properly disposed of the funds arising from the sale of the assets of the insolvent corporation, and under the circumstances plainly set forth by the pleadings and testimony, it justly directed the payment of the receiver’s certificates. To have directed the payment of debts due the stockholders in preference to said certificates would have been inequitable, would virtually have been borrowing from innocent parties, and applying the money so obtained for the reimbursement of stockholders, who to say the least participated in all the transactions from which came the loss and insolvency referred to in the proceedings in this case. We find no error.

Affirmed.

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