De Met's Inc. v. Insull

KERNER, Circuit Judge.

This is a representative suit brought by De Met’s Incorporated, a holder of corporate notes, against the directors of the Corporation Securities Co. of Chicago, a bankrupt corporation, for the improper pledging of the corporate assets, and for the improper payment of dividends in violation of § 23 of the Illinois Corporation Act of 1919, Laws of Illinois, 1919, p. 321, Smith-Hurd Stats.Ill. c. 32, § 157.42 note.

This case, No. 7431, is related to Aiken et al. v. Insull, No. 7430, 7 Cir., 122 F.2d 746, in that the respective records present the same legal questions. These…