Schwartz v. American Petro-Chemical Co.

This bill of complaint was filed by 27 stockholders of the defendant American PetroChemical Company, a Michigan corporation, for and on behalf of the company, to compel defendants La Joie, Hinsch and Mann to account for funds invested in the corporation and to restrain them from further expending corporate funds except in lawful course of business. Subsequent to filing the bill of complaint, the corporation was' adjudged bankrupt, Schwartz was appointed trustee in bankruptcy and substituted as party plaintiff. Prom an order granting a motion to dismiss the bill on the ground of…