Dewey v. St. Albans Trust Co.
Supreme Court of Vermont
Petition by the receiver of the St. Albans Trust Company. The petition was addressed to the Court of Chancery, was filed July 29, 1884, and heard by Chancellor Royce, October 25, 1884. The cause was heard on the petition, the several answers of the National Life Insurance Company and of C. W. Witters, assignee of Lawrence Brainerd, and oral proofs. Petition dismissed.
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Petition by the receiver of the St. Albans Trust Company. The petition was addressed to the Court of Chancery, was filed July 29, 1884, and heard by Chancellor Royce, October 25, 1884. The cause was heard on the petition, the several answers of the National Life Insurance Company and of C. W. Witters, assignee of Lawrence Brainerd, and oral proofs. Petition dismissed. See Dewey v. The St. Albans Trust Co. 5G Yt. 47G. Sec. 20 of the charter means that the directors shall repair the loss of capital by laying an assessment, or making a requisition, not upon themselves or strangers, but upon the…
1Opinion of the Court
The opinion of the court was delivered by
Rowell, J.
This is a petition in said cause by the receiver of said company, setting forth that debts to the amount of §580,000 have been proved and allowed against said company, and a dividend of twenty per cent ordered to be paid thereon, and that the same has been paid to the extent of the funds in his hands ; that there is not enough property and assets of said company remaining that can be collected and made available to satisfy the residue of said debts into more than $100,000 — the amount of the chartered capital stock of said company, so that,…
2Cited by12 opinions
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