Industrial & Realty Financial Corp. v. Continental Bank & Trust Co.

The court has inherent power to grant intervention and a vacatur of the judgment (Ladd v. Stevenson, 112 N. Y. 325, 331; Matter of Automatic Chain Co., 134 App. Div. 863, 866; Flanson Realty Corporation v. Workers’ Unity House, Inc., 229 id. 179), especially in a class or representative suit. (West v. Randall, 29 Fed. Cas. 718, No. 17,424 [2 Mason, 181].)

While perhaps a prima facie right to an accounting was shown, serious doubt exists as to whether a proper exercise of discretion did not require a denial of the relief sought. Neither fraud, mismisfeasance nor malfeasance is shown, but merely…