Craughwell v. Mousam River Trust Co.
Supreme Judicial Court of Maine
On exceptions by plaintiffs. This is a bill in equity, brought by the plaintiffs as stockholders of the defendant corporation in behalf of themselves and all other stockholders who might wish to join, alleging that through fraud, neglect and gross mismanagement of its officers, the corporation is insolvent, and praying for the appointment of a receiver. At the hearing of this cause, upon motion of defendant, the bill was dismissed for want of jurisdiction.
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On exceptions by plaintiffs. This is a bill in equity, brought by the plaintiffs as stockholders of the defendant corporation in behalf of themselves and all other stockholders who might wish to join, alleging that through fraud, neglect and gross mismanagement of its officers, the corporation is insolvent, and praying for the appointment of a receiver. At the hearing of this cause, upon motion of defendant, the bill was dismissed for want of jurisdiction. To this decree ordering said bill dismissed, the plaintiffs excepted. The case is stated in the opinion.
1Opinion of the CourtSavage, C. J.
Bill in equity brought by several stockholders against the Mousam River Trust Company, alleging in substance that through the fraud, neglect and gross mismanagement of its officers the corporation is insolvent or in imminent danger of insolvency, and praying for the appointment of a receiver, the winding up of the affairs of the corporation, and so forth. On motion the bill was dismissed for want of jurisdiction, and the plaintiffs excepted. The bill was brought under the provisions of Chap. 85 of the laws of 1905, as amended by Chap. 137 of the Laws of 1907.
The statute of 1905 provided that…
2Cited by22 opinions
- State Ex Rel. Bettman v. Court of Common PleasOhio Supreme Court · 1931
- Picklesimer v. MorrisWest Virginia Supreme Court · 1926
- Lipman v. ThomasSupreme Judicial Court of Maine · 1948
- Department of Banking v. HedgesNebraska Supreme Court · 1939
- Emple Knitting Mills v. City of BangorSupreme Judicial Court of Maine · 1959
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