Butterworth v. Smith
Massachusetts Supreme Judicial Court
Contract by a receiver, appointed on October 5, 1909, by a decree of the District Court of the United States for the District of Connecticut, of the property of the Gilbert Transportation Company, a Connecticut corporation, against a Massachusetts stockholder to recover an assessment ordered by a decree of that court dated March 17, 1915. Writ dated March 3, 1917. While the action was pending, Frank S. Butterworth resigned as receiver, his resignation was accepted, and by a…
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Contract by a receiver, appointed on October 5, 1909, by a decree of the District Court of the United States for the District of Connecticut, of the property of the Gilbert Transportation Company, a Connecticut corporation, against a Massachusetts stockholder to recover an assessment ordered by a decree of that court dated March 17, 1915. Writ dated March 3, 1917. While the action was pending, Frank S. Butterworth resigned as receiver, his resignation was accepted, and by a decree dated August 16, 1918, John S. Pullman was appointed as his successor. The amount of assessment claimed by the…
1Opinion of the CourtJenney, J.
The plaintiff as receiver of the Gilbert Transportation Company, a corporation organized under the laws of *193Connecticut, brings this action to recover from the defendant, who is a resident of Massachusetts, an assessment upon the stock standing in his name because of a balance unpaid thereon. The corporation being financially involved, an assessment of the full amount of the unpaid par value of the stock was necessary in order to protect its creditors.
The defendant contends that he is entitled to set-off, as against the concededly valid assessment, an indebtedness of the Gilbert Transportation…
2Cases cited8 opinions
- Stone v. Old Colony Street Railway Co.Massachusetts Supreme Judicial Court · 1912
- Broadway National Bank v. BakerMassachusetts Supreme Judicial Court · 1900
- Cavanaugh v. D. W. Ranlet Co.Massachusetts Supreme Judicial Court · 1918
- Vermont State Bank v. PorterSupreme Court of Connecticut · 1812
- Cogliano v. FergusonMassachusetts Supreme Judicial Court · 1917
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3Cited by7 opinions
- Lane v. Volunteer Co-operative BankMassachusetts Supreme Judicial Court · 1940
- Union Mutual Casualty Insurance v. Insurance Budget Plan, Inc.Massachusetts Supreme Judicial Court · 1935
- U. S. B. & M. Liquidation Corp. v. HiltonMassachusetts Supreme Judicial Court · 1940
- Amacher v. Western Realty Corp.Oregon Supreme Court · 1934
- Fromm v. GlueckNew York Supreme Court · 1937
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