Woodmansee v. Ann Arbor Brick Co.
Michigan Supreme Court
Appeal from Washtenaw; Kinne, J. Stockholders’ suit by Nathan Woodmansee and Austin F. Smith, against the Ann Arbor Brick Company, Horace G. Smith, Charles L. Smith, and George F. Smith. From an order appointing a receiver, defendants appeal.
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Appeal from Washtenaw; Kinne, J. Stockholders’ suit by Nathan Woodmansee and Austin F. Smith, against the Ann Arbor Brick Company, Horace G. Smith, Charles L. Smith, and George F. Smith. From an order appointing a receiver, defendants appeal. Two of five stockholders ( all of whom are also directors) of defendant corporation filed their bill of complaint against the corporation and the other stockholders, praying for the appointment of a receiver of corporate property, to wind up the affairs of the corporation, for an accounting by defendant stockholders, and for an injunction restraining…
1Opinion of the CourtOstrander, C. J.
(after stating the facts). Whether the bill states a case for equitable cognizance is a question not presented on this appeal. That the answer does not confess, and does deny, the charges of fraud and mismanagement and insolvency, is clear. The effect of the order is not limited to preserving the assets of the corporation until final decree. The effect is to dispossess the corporation and to deprive it of all title to, and management of, the corporate property. This court has so often declared that such an order, made upon a preliminary hearing, cannot be sustained, that we shall only refer…
2Cases cited6 opinions
- Arnold v. BrightMichigan Supreme Court · 1879
- Tawas & Bay County Railroad v. Circuit JudgeMichigan Supreme Court · 1880
- Smith v. WalkerMichigan Supreme Court · 1885
- Hall v. Wayne Circuit JudgeMichigan Supreme Court · 1897
- McCombs v. MerryhewMichigan Supreme Court · 1879
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- King v. EmmonsMichigan Supreme Court · 1938
- Town v. Duplex-Power Car Co.Michigan Supreme Court · 1912
- Furrer v. Nebraska Building & Investment Co.Nebraska Supreme Court · 1922
- Sanford v. NewellMichigan Supreme Court · 1918
- Carpenter v. LandmanMichigan Supreme Court · 1916