Branch v. Kaiser

Opinion by

Mr. Justice Frazer,

Defendants appealed from a decree entered by the court below on a bill in equity, filed by a trustee in bankruptcy, to compel repayment by respondents of moneys paid out as dividends alleged to have been wrongfully declared by the directors of the bankrupt corporation. Hearing was had in the court below by the court in banc on bill and answer.

The corporation in question, known as the Girard Grocery Company, was incorporated in 1908 under the laws of this Commonwealth, for the purpose of carrying on a wholesale business principally in groceries and food products.…