Legal Opinion
Manning v. Middle States Oil Corp.
Court of Chancery of Delaware
Decided April 13, 1927PublishedCited by 12 opinions
1Opinion of the Court
The Chancellor.
The statute upon which the bill is based authorizes the Chancellor in his discretion to appoint a receiver of an insolvent corporation upon the application of any stockholder or creditor thereof. The complainant is a stockholder.
The bill was filed on April 1, 1925. It charges insolvency in that the defendant is “unable to pay its debts and is unable to meet its current obligations.” The answer denies this charge.
In order to support his bill, the complainant must show a condition of insolvency existing as of April 1, 1925, when the bill was filed. The defendant contends that the…
2Cases cited4 opinions
- Jones v. Maxwell Motor Co.Court of Chancery of Delaware · 1921
- Sill v. Kentucky Coal & Timber Development Co.Court of Chancery of Delaware · 1916
- Whitmer v. William Whitmer & Sons, Inc.Court of Chancery of Delaware · 1916
- Stone v. Jewett, Bigelow & Brooks Coal Co.Court of Chancery of Delaware · 1924
3Cited by12 opinions
- Production Resources Group, L.L.C. v. NCT Group, Inc.Court of Chancery of Delaware · 2004
- Freeman v. Hare & Chase, Inc.Court of Chancery of Delaware · 1928
- Kenny v. Allerton Corp.Court of Chancery of Delaware · 1930
- Banks v. Cristina Copper Mines, Inc.Court of Chancery of Delaware · 1953
- First Nat. Bank of Wichita Falls v. FoleyCourt of Appeals of Texas · 1930
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