54 S.C. 545 | S.C. | 1899
The opinion of the Court was delivered by
The Bank of New Hanover, a corporation created under the laws of North Carolina, having its principal place of business at Wilmington, being insolvent, on tire 19th of June, 1893, made an assignment for benefit of creditors of all its property to the defendant, Davis, as assignee. Soon thereafter, under a creditor’s bill, this assignment was set aside as void, and the defendant, Davis, was appointed receiver by the Superior Court for New Hanover County, in North Carolina. Then in July, 1893, in the'suit of Tate, Treasurer of the State of North Carolina, against the Bank of New Hanover, said Davis, as assignee under the assignment, and said Davis, as receiver under the creditor’s bill, the Superior Court for Wake County, in said State, appointed the defendant, Davis, as receiver of all the assets and property of said bank, pursuant to a statute of that State which provides that whenever the State’s bank examiner reports a bank as insolvent or in imminent danger of insolvency, the State Treasurer shall file a bill- for winding up the affairs of the bank, and administering its. assets amongst all of its creditors, without any preference or priority. The plaintiff, as well as all other creditors
The exceptions to the decree of the Circuit Court are overruled, and the judgment of that Court is affirmed.