Deauville Corporation v. Blount

In May, 1945, Respondent, as trustee, filed his bill of complaint in the circuit court against petitioners, alleging that he held under a written trust agreement, title to eight and one-third (8-1/3) shares of the capital stock of Deauville Corporation for the benefit of William M.- F. Magraw. It is also alleged that in August, 1944, the stockholders of said corporation held a meeting, at which the stock held by respondent, in- eluding the remaining sixteen and two-thirds (16-2/3) shares, was surrendered and cancelled, and new certificates of stock were forthwith issued in the amount of one…