Scott v. Abbott
Court of Appeals for the Eighth Circuit
Appeal from the District Court of the United States for the Eastern District of Missouri. The appellants, who by consent and on one record prosecute .joint appeals to this court, were separate holders of preferred stock in the Tennent Shoe Company, a manufacturing and business corporation, organized under and pursuant to the general laws of the state of Missouri.
Read the full summary
Appeal from the District Court of the United States for the Eastern District of Missouri. The appellants, who by consent and on one record prosecute .joint appeals to this court, were separate holders of preferred stock in the Tennent Shoe Company, a manufacturing and business corporation, organized under and pursuant to the general laws of the state of Missouri. The shoe company originally had a capital stock of $400,000. It undertook to comply with the provisions of the statutes of Missouri to increase its capital stock to $800,000, and to make $300,000 thereof preferred stock and $100,000…
1Opinion of the CourtAdams, Circuit Judge
(after stating the facts as above). Appellants claimed below, and now claim here, that they are entitled to prove their claims against the estate of the shoe company in bankrupt*576cy, for two reasons: First, because the issue of preferred stock, of which they acquired a part, was fictitious and void, in that it was never subscribed or paid for, as required by the Constitution and statutes of Missouri, and consequently they never sustained the relation of stockholders to the company, but that of creditors to the extent of the money paid for their stock; second, because they were induced to…
2Cases cited41 opinions
- Hollins v. Brierfield Coal & Iron Co.Supreme Court of the United States · 1893
- Sanger v. UptonSupreme Court of the United States · 1875
- Sawyer v. HoagSupreme Court of the United States · 1873
- Hawkins v. GlennSupreme Court of the United States · 1889
- Handley v. StutzSupreme Court of the United States · 1891
36 more not listed; retrieve them via the Exa API.
3Cited by34 opinions
- Official Committee of Unsecured Creditors of Toy King Distributors, Inc. v. Liberty Savings Bank, FSB (In Re Toy King Distributors, Inc.)United States Bankruptcy Court, M.D. Florida · 2000
- Stirling Homex Corporation v. RaichleCourt of Appeals for the First Circuit · 1978
- Alsop v. ConwayCourt of Appeals for the Sixth Circuit · 1911
- Meholin v. CarlsonIdaho Supreme Court · 1910
- In Re Teligent, Inc.United States Bankruptcy Court, S.D. New York · 2001
29 more not listed; retrieve them via the Exa API.