Federal Deposit Ins. Corp. v. Alker

The suit at bar was brought by Federal Deposit Insurance Corporation against the defendants pursuant to the provisions of ? 12B(j) of the Act of June 16, 1933, 48 Stat. 168, 12 U.S.C.A. ? 264(j). The plaintiff seeks to recover a deficiency judgment against the defendant, Alker for a balance due from him on a demand note, an adjudication that neither the defendant Mamie DuBan, executrix of the estate of Alfred A. DuBan, nor the estate has any interest in 4,400 shares of the common stock of National Dairy Products Corporation pledged by Alker with Integrity Trust Company as collateral for the loan represented by Alkers note or the dividends thereon declared since Nov. 20, 1942, and a decree requiring National Dairy to transfer the stock upon its books to FDIC and to pay FDIC all dividends accrued since a specified date. The defendants filed answers. The case was tried to the court and judgment was given for the plaintiff. The defendants, with the exception of National Dairy, have appealed.