Slater v. the Oriental Mills

Stiness,. J.

The question, raised by the demurrer to the bill, is whether .the Forestdale Manufacturing Company, of which the complainants are stockholders, has a preferred, claim upon the respondent assignee of the Oriental Mills, an insolvent corporation, for funds wrongfully taken from the former company and used to pay liabilities of the latter company, and otherwise, by persons who were officers in control of both companies.

The rule is clear that one has an equitable right to follow and reclaim his property, which has been wrongfully appropriated by another, so long as he can find the…