Cahall v. Lofland

The Chancellor.

The bill demurred to was filed by the . receiver of Lewes Fisheries Company, heretofore appointed by this court, and it was there alleged in substance, that seven of the defendants, as directors, had fraudulently acquired assets of the company and had passed them over to the other two defendants, who had notice of, or were also parties to, the transactions. Later a proceeding was taken for a voluntary dissolution and after *164almost all of the assets had been converted and distributed the receiver was appointed in place of the directors.

The illegal and fraudulent acts of the…