Central Wisconsin Trust Co. v. Barter
Court of Appeals for the Seventh Circuit
Appeal from the Circuit Court of the United States for the Western District of Wisconsin. Suit in equity by Harold Harris against the Northern Blue Grass Rand Company. On petition for an order directing a receiver of defendant to issue an assessment on the holders of defendants common stock, to pay into court the par value of the stock held by them.
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Appeal from the Circuit Court of the United States for the Western District of Wisconsin. Suit in equity by Harold Harris against the Northern Blue Grass Rand Company. On petition for an order directing a receiver of defendant to issue an assessment on the holders of defendants common stock, to pay into court the par value of the stock held by them. From an order denying such application and dismissing the petition (185 Red. 192), the Central Wisconsin Trust Company, as receiver of defendant corporation, appeals. Tlie appellant, Central Wisconsin Trust Company, is receiver of the Northern…
1Opinion of the CourtSeaman, Circuit Judge
(after stating the facts as above). This appeal from an order dismissing the appellant’s petition for an assessment against the stockholders of an insolvent corporation presents a novel plan for charging such personal liability for corporate, indebtedness, under the Wisconsin statute providing for incorporation for general business purposes, notwithstanding the fact that the stock is “paid for in full.” The contention is, in substance, that such double liability may be imposed, within the general terms of the statute, (a) either by provision in the original articles of incorporation, or (b)…
2Cases cited1 opinion
- Harris v. Northern Blue Grass Land Co.District Court, W.D. Wisconsin · 1911
3Cited by1 opinion
- Good v. StarkerWisconsin Supreme Court · 1932