State ex rel. Godard v. State Bank of Circleville

Citations

• 84 Kan. 366
• 114 P. 381
• 1911 Kan. LEXIS 333

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Corporations — Insolvency—Receiver—Jurisdiction. When a district court in a suit brought by the state for that purpose appoints a receiver to wind up the affairs of a banking corporation it thereby secures to itself full jurisdiction to adjust all rights, interests, claims and demands, legal or equitable, relating to the bank’s estate or growing out of its administration, and to control, at its discretion, all controversies affecting the subject matter of the receivership.</p> <p>2. - Litigation of Claims against Assets — Independent Action. In the exercise of the jurisdiction stated the court may refuse to allow a claim upon the assets in its custody to be litigated in an independent action, and may itself adjust the matter in a proceeding in the receivership suit.</p> <p>3. -Bight to Jury Trial. In such a case the court may, if it see fit, award a trial by jury as to matters of fact or damages,’ but it is not obliged to do so.</p> <p>4. - Limitation of Actions — -Laches. When a court undertakes to wind up the affairs of a bank through a receiver the right to secure the satisfaction of demands by the usual processes of the law is suspended. The statute of limitations against ordinary actions does not apply, and lapse of time before proceeding against funds in the receiver’s hands is important only as it indicates laches or unreasonable delay.</p>