Nelson v. Nahtel Corp.

This action was brought to enjoin the corporate defendant from paying to its president and controlling stockholder, William P. Ahnelt, certain liquidating dividends. The facts are not in dispute. The plaintiff on December 11, 1930," entered into an agreement with the defendant Ahnelt whereby she agreed to sell to him her minority interest in the Pictorial Review (subsequently called the Nahtel Corporation), consisting of 41,315 shares of stock, for $516,437.50 on deferred payments, plaintiff in the meantime to receiye as interest on the unpaid purchase price the sum of $22,500 per annum. In…