[1] The bank's main founders were John MacGregor, a Member of Parliament for Glasgow, and Edward Mullins, a solicitor.
[2]: 703 After press articles alleging substantial losses appeared in 1856, the share price dropped and in September 1856 the bank suspended operations after experiencing a run, leaving 6,000 depositors owed money.
On the first day of the trial, the Prince of Wales attended and sat on the bench next to the Lord Chief Justice.
The jury found each of the defendants guilty of the charges and they were given sentences ranging from a nominal fine of one shilling to imprisonment for up to one year.
The collapse gave rise to a new legislation tightening banking regulation, including the publication of balance sheets and the auditing of accounts.