Gress v. Knight
Supreme Court of Georgia
Equitable interventions. Before Judge Seabrook. Ware superior court. May 10, 1909. On November 23, 1907, the Bank of Wayeross made an assignment for tbe benefit of its creditors. Later receivers were appointed. Certain persons intervened, alleging in brief as follows: "The bank had long had an authorized capital stock of $50,000, of which' $25,000 had been issued and fully paid up.
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Equitable interventions. Before Judge Seabrook. Ware superior court. May 10, 1909. On November 23, 1907, the Bank of Wayeross made an assignment for tbe benefit of its creditors. Later receivers were appointed. Certain persons intervened, alleging in brief as follows: "The bank had long had an authorized capital stock of $50,000, of which' $25,000 had been issued and fully paid up. On July 11, 1907, the capital stock was increased from $50,000 to $150,000. All of this was sold to'or divided among the original stockholders, except about 250 shares of the par value of $100 per share. These…
1Opinion of the CourtLumpkin, J.
1. In England it is settled that, after the commencement of winding up proceedings against a corporation, an application to be relieved from liability as a shareholder, on the ground of fraud practiced upon him by agents of the company in procuring the subscription, comes too late. Oakes v. Turquand, L. R. 2 H. L. 325; Stone v. City & County Bank, 3 C. P. Div. 282. By the companies act of 1862 (Statutes at Large, 25 & 26 Vict. 434. secs. 23, 26, 37, 38) every company was required to keep a register of members or shareholders, showing the name and address of each, and the date of becoming a…
2Cases cited11 opinions
- Upton v. TribilcockSupreme Court of the United States · 1875
- Chubb v. UptonSupreme Court of the United States · 1877
- Newton Nat. Bank v. NewbeginCourt of Appeals for the Eighth Circuit · 1896
- Howard v. GlennSupreme Court of Georgia · 1890
- Upton v. EnglehartU.S. Circuit Court for the District of Iowa · 1874
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3Cited by23 opinions
- Mitchell v. HancockCourt of Appeals of Texas · 1917
- Lex v. Selway Steel CorporationSupreme Court of Iowa · 1925
- Daniel v. Dalton News Co.Court of Appeals of Georgia · 1934
- Niemeyer v. DouganCourt of Appeals of Georgia · 1923
- MacNamee v. Bankers' Union for Foreign Commerce & Finance, Inc.Court of Appeals for the Second Circuit · 1928
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