Central Standard Life Insurance v. Davis

Central Standard Life Insurance Company owns 4098 shares of the preferred stock of Abraham Lincoln Hotel Company. On its own behalf, and on behalf of approximately four - hundred other preferred shareholders, it brought this class action in the circuit court of Sangamon County, praying for the dissolution of the Hotel Company and a sale and distribution of its assets. After a trial before a master, the circuit court dismissed the complaint for want of equity. Plaintiff’s direct appeal was transferred to the Appellate Court, because this court lacked jurisdiction. (7 Ill.2d. 266.) The…