Thilco Timber Co. v. Sawyer

This bill was filed for the purpose of establishing a trust in certain tax titles which it is claimed were acquired by the defendant in violation of his duties as director and agent for a corporation known as the Land & Timber Company, of which the plaintiff is the successor. The Land & Timber Company was a Michigan corporation. It was organized in October, 1914, and was engaged in producing and marketing pulpwood. Its place of business was at Escanaba, Michigan. It was a close corporation. All of its stockholders were directors. In the operation of its business it was necessary to purchase…