Barnitt v. Maxwell
Court of Appeals for the Third Circuit
Petition for Revision of Proceedings of the District Court of the United States for the District qf New jersey; J. Warren Davis, Judge. In the matter of the Canister Company, bankrupt. An order of the referee, assessing stockholders of the bankrupt company, was reversed on petition of Henry D. Maxwell and others (248 Fed. 587), and Marshall A. Barnitt, trustee, petitions to revise.
1Opinion of the Court
McPHERSON, Circuit Judge.
The Canister Company, a New jersey corporation, was adjudged bankrupt in July, 1916, and in the following March a creditor (joined afterward by the trustee) petitioned the referee for an order assessing the stockholders, both common and preferred, for the payment of the bankrupt’s debts. The petition was based on the averment that, although the stock had been issued as fully paid, such payment had not been made in cash, and that “if any property was given for any shares of stock so issued the; same was of little or no value.” An assessment was therefore asked, calling…
2Cases cited9 opinions
- Holcombe v. Trenton White City Co.New Jersey Court of Chancery · 1912
- In re Remington Automobile & Motor Co.Court of Appeals for the Second Circuit · 1907
- Enright v. HeckscherCourt of Appeals for the Second Circuit · 1917
- Hall v. ReynoldsCourt of Appeals for the Eighth Circuit · 1915
- In re Newfoundland SyndicateCourt of Appeals for the Third Circuit · 1913
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3Cited by1 opinion
- In re Bell Tone Records, Inc.District Court, D. New Jersey · 1950