Trade Mut. Liability Ins. Co. v. Peters Et

LUMMUS, Justice. The receiver of the plaintiff, a mutual accident and liability insurance corporation formed under G. L. (Ter. Ed.) c. 175, § 47, Sixth, brought this bill against the president, vice-president and directors of the corporation and also its attorney and Beacon Trust Company, to set aside an assignment of accounts and notes receivable of the corporation, made in November, 1929, to the individual defendants, and an assignment of the same made soon afterwards by the individual defendants to the defendant Beacon Trust Company as security for a loan to them of $30,000. Pending the suit, Beacon Trust Company became merged in Atlantic National Bank of Boston, and the latter was added as a party.