4 Colo. 580 | Colo. | 1879
It is alleged in the complaint, and admitted by the demurrer that the First National Bank of Georgetown, organized under the act of Congress to provide a national currency, approved June 3, 1864, suspended business July 30th, 1877, then being insolvent; that August 18,1877, the complainant was appointed by the comptroller of the currency receiver of said First National Bank; that within ten days thereafter he qualified as su.ch receiver; that upon examination of the books and accounts of said bank the receiver found it had been insolvent for more than
But it is upon an entirely different ground chiefly that equitable relief is sought. The circumstances of this case are peculiar. The personal property, the sale of which is restrained, was neither assessed nor levied upon. Under the statute, a perpetual lien only attaches by virtue of the levy to the specific property levied upon. General Laws, § 2337. Other property, however, may be distrained and
Section 50 of the National Bank Act provides that the receiver “ shall take possession of the books, records and assets of every description of such association, and, upon the order of a court of record of competent'jurisdiction, may sell or compound all bad or doubtful debts, and, on a like order, sell all the real and personal property of such association, on such terms as the court shall direct; and may, if necessary to pay the debts of such association, enforce the individual liability of the stockholders provided for by the twelfth section of this act; and such receiver shall pay over all money so made to the treasurer of the United States, subject to the order of the comptroller of the currency, and also make report to the comptroller of the currency of all his acts and proceedings. The comptroller shall thereupon cause notice to be given, by advertisement in such newspapers as he may direct, for three consecutive months, calling on all persons who may have claims against such association to present the same, and to make legal proof thereof. And from time to time the comptroller, after full provision shall have been first made for refunding to the United States any such deficiency in redeeming the notes of such association as is mentioned in this act, shall make a ratable dividend of. the money so paid over to him by such receiver on all such claims as may have been proved to his satisfaction or adjudicated in a' court of competent jurisdiction.”
By section 47 it is provided that the United States shall have the first and paramount lien upon all the (assets of such insolvent bank for the purpose of making good any deficiency (in the proceeds of the bonds pledged by the bank) to meet the amount expended in paying the notes of the bank. This lien, it is further declared, shall
Whatever might be the rights of the defendant if the statutory lien had attached to the specific property by virtue of a levy thereon prior to the insolvency of the bank, we are satisfied that, accepting as true the averments in the complaint, the court did not err in issuing the preliminary injunction. The order denying the motion to dissolve the same will be
Affirmed.