Legal Opinion
Fed. Terra Cotta v. Atl. Terra Cotta
New Jersey Court of Chancery
Decided June 7, 1943No. Docket 149/258PublishedCited by 2 opinions
1Opinion of the Court
The deprivation of the life of a corporation is a serious and critical adjudication rendered only upon imposing and persuasive proof. Vice-Chancellor Van Fleet acknowledged: "The power is a strong one." Atlantic Trust Co. v. Consolidated ElectricStorage Co., 49 N.J. Eq. 402; 23 Atl. Rep. 934. Should the defendant be at once enjoined from exercising its corporate franchises and a receiver appointed pursuant to the statute to liquidate and distribute its assets? R.S. 14:14-3.4; N.J.S.A.14:14-3.4. If not, should a receiver be empowered to assume custody of the property of the defendant within…
2Cases cited16 opinions
- Whitfield v. KernSupreme Court of New Jersey · 1937
- Pierce v. Old Dominion Copper Mining & Smelting Co.New Jersey Court of Chancery · 1904
- Hersh v. Levinson Bros., Inc.Supreme Court of New Jersey · 1934
- Kelly v. Kelly-Springfield Tire Co.New Jersey Court of Chancery · 1930
- Madsen v. Burns Bros.New Jersey Court of Chancery · 1931
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3Cited by2 opinions
- Neff v. Progress Building Materials Co.New Jersey Court of Chancery · 1947
- RKO THEATRES v. Trenton-New Bruns. Theatres Co.New Jersey Superior Court Appellate Division · 1950