Black v. Palmer

JUDGE ROBSON

delivered the opinion of the court.

Plaintiffs appeal from an order striking an amendment to their complaint and dismissing the action with prejudice. By their complaint in chancery they seek to establish and enforce a trust under which they assert a variety of claims for equitable relief, including the right to maintain a stockholder’s derivative suit. The question fundamental to this action is whether or not plaintiffs are beneficiaries of a trust for the benefit of creditors.

On April 14, 1952, Eoe E. Black and Avis C. Black, owners of all the capital stock of Black Eanches,…