Director of Liquidations v. Central Trust Co.

This is a suit in equity against Nathan H. Gordon Corporation and Sarah Scovell under G. L. (Ter. Ed.) c. 167, § 24, as amended by St. 1933, c. 41, § 4, to enforce their individual liability as stockholders in the insolvent Central Trust Company on May 10, 1932, when the commissioner of banks took possession of said Central Trust Company. The liability is created by G. L. (Ter. Ed.) c. 172, § 24. See now St. 1934, c. 349, § 14; St. 1937, c. 248. The liability is fastened upon “stockholders” without further description. Friede v. Mackey, 298 Mass. 193, 194.

The facts appear in the report of a…