Manufacturers' Land & Improvement Co. v. Cleary
Court of Appeals of Kentucky
Case 50. — ACTION BY WALTER CLEARY AND OTHERS AGAINST THE MANUFACTURERS’ LAND AND IMPROVEMENT CO. FOR THE APPOINTMENT OF A RECEIVER.— Appeal from Kenton Circuit Court. "W. McD. Shaw, Circuit Judge. From an order appointing a receiver defendant appeals. POINTS AND AUTHORITIES. 1. Appellees have no right to 'sue. (Brunk v. Means, 11 B..
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Case 50. — ACTION BY WALTER CLEARY AND OTHERS AGAINST THE MANUFACTURERS’ LAND AND IMPROVEMENT CO. FOR THE APPOINTMENT OF A RECEIVER.— Appeal from Kenton Circuit Court. "W. McD. Shaw, Circuit Judge. From an order appointing a receiver defendant appeals. POINTS AND AUTHORITIES. 1. Appellees have no right to 'sue. (Brunk v. Means, 11 B.. Mon., 214;, Hull v. Deatly’s Adm’r, 7 Bush, 687.) 2. This suit can not be ^maintained as the suit of a stockholder^ (Smith on Receiverships, sec. 5, pp. 10-19; Verplank v. Mercantile Ins. Co., 2 Paige, 438;' O’Connor v. Knoxville Hotel Ass’n, 28-S. W., 308;…
1Opinion of the Court
Opinion by
Judge O’Rear
Reversing.
Appellant corporation was organized under the’ general law in 1887, to endure for twenty-five years-unless sooner dissolved by its stockholders. The cor*405poration’s business, as stated in its articles, was to deal in real estate and to buy, own, lease, improve and sell real estate. Its authorized capital is $100,-000, but It was provided that it might begin business upon $50,000 being subscribed. About $84,000 was subscribed, and was paid up, except three subscribing stockholders; appellees’ ancestor, W. W. Cleary, being one of the three. It invested its capital…
2Cited by15 opinions
- Zahn v. Transamerica CorporationCourt of Appeals for the Third Circuit · 1947
- Central Standard Life Insurance v. DavisIllinois Supreme Court · 1957
- Haldeman v. HaldemanCourt of Appeals of Kentucky (pre-1976) · 1917
- Phinizy v. Anniston City Land Co.Supreme Court of Alabama · 1916
- Levitan v. StoutDistrict Court, W.D. Kentucky · 1951
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