Durrance v. Collier (81 F.2d 4, 1936)

T Circuit Judge.

^ ^ In proceedings under a petition filed by Barron G. Collier (herein called the debtor) praying an extension of time to pay his debts (11 U.S.C.A § 202), the appellant, as receiver of the First National Bank of Arcadia, Fla (herein referred to as the bank) filed a verified proof of claim which after alleging hat the debtor was, at and before the filing of said petition, and still is, justly indebted to appellant as such receiver m the lawful sum of $51,700.00 with lawful mterest thereon from the 31st day of May, íJó¿, alleged.

_ _ _ That the consideration of said debt is as follows:

“That on, to-wit, the 23rd day of January, A. D., 1932, the said First National Bank of Arcadia, Florida, suspended business and on said date and long prior thereto the said Barron G. Collier was the true and lawful owner of five hundred twenty-seven (527) shares of the capital stock of said .bank of the par value of One Hundred Dollars ($100.00) each and was from, to-wit, the 6th day of April, A. D., 1925, until the suspension of said bank on, to-wit, the 23rd day of January, A. D., 1932, a director of the said First National Bank of Arcadia, Florida; that at some date unknown to this deponent the said Barron G. Collier caused to be organized a corporation known as Collier Investing Company and on, to-wit, the 6th and 7th days of August, A. D., 1928, caused five hundred seventeen (517) shares of the capbal stock 0f sajd 'bank so standing in his name to be assigned to the said Collier investing Company by the assignment of sundry certificates of stock aggregating the number of shares last mentioned; that deponent is informed and believes and upon information and belief alleges, that the said assignment of the said stock by the said Barron G. Collier to the said Collier Investing Company was made without any valid consideration and for the purpose of concealing the identity of the true owner of the stock; that the transfer was made with knowledge on the part of the said Barron G. Collier of the fact that the condition of the said First National Bank of Arcadia, Florida, was such that its solvency was imperiled, and thaVhc assignment and transfer of sald stock xwa® mad