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SMYTH v. KASPAR AMERICAN STATE BANK

Gen. No. 46,419.

6 Ill. App.2d 64 (1955)

127 N.E.2d 149

Emma Smyth et al., Czechoslovak Society of America, and John Kolinsky, Appellants, v. Kaspar American State Bank, Appellee.

Appellate Court of Illinois — First District, First Division.

Additional Opinion, May 13, 1955.

Rehearing denied June 20, 1955.

Released for publication June 20, 1955.

Attorney(s) appearing for the Case

Haddad & Santucci, and Charles T. Kropik, all of Chicago, for appellants; George J. Haddad, and Thomas G. Deering, both of Chicago, of counsel.

Albert E. Jenner, Jr., Philip W. Tone, and William B. Davenport, all of Chicago, for appellee; Johnston, Thompson, Raymond & Mayer, of Chicago, of counsel.

MR. JUSTICE NIEMEYER delivered the opinion of the court.

Plaintiffs, present and former owners of certificates of beneficial interest issued by defendant bank pursuant to a plan of reorganization and reopening of the bank on January 15, 1935, payable "without interest, solely out of the future recoveries and net profits ... before any dividends or returns of any kind or character are paid on the capital stock of the bank...

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