In re the Liquidation of Westchester Title and Trust Co.

The State Superintendent of Insurance seeks from the court authority to enforce the statutory liability of stockholders of the Westchester Title and Trust Company, by action to be commenced by him jointly with a creditor of the company to be designated by the court. The Superintendent is in possession of the property of the company by virtue of an order of liquidation made pursuant to the provisions of article 11 of the Insurance Law, section 404 of which statute provides that the Superintendent, upon the filing or recording of such an order, shall be vested by operation of law with the title…