59 F.2d 523 | 5th Cir. | 1932
Speakman, as trustee in bankruptcy of Tex-1 a-horna Oil Corporation, sued Bernstein as a former director to recover the amount of dividends declared and paid when the corporation had no net profits. A former suit between the same parties to recover among, other things the same dividends terminated after full trial adversely to Speakman by a judgment of the Supreme Court of Louisi-. ana, Smalley v. Bernstein, 165 La. 1,115 So. 347, and that judgment was pleaded as res. judicata and the plea sustained. Speakman appeals. Bernstein having died pending the appeal, his executors have been made parties.
The judgment of a state court has in a federal court only such effect as res judicata as is given it under the laws of the state. Wright v. Ga. R. R. & Banking Co., 216 U. S. 420, 30 S. Ct. 242, 54 L. Ed. 544. The law in Louisiana of the thing adjudged is in close accord with that applied in the courts of the United States. New Orleans v. Citizens’ Bank, 167 U. S. 371, 398, 17 S. Ct. 905, 42 L. Ed. 202. There Heroman v. Louisiana Institute, 34 La. Ann. 814, is quoted thus:
Judgment affirmed.