Young v. Haviland
Massachusetts Supreme Judicial Court
Bill in equity, filed in the Superior Court on January 1, 1912, and afterwards amended, by Royal Bosworth Young “and such other bondholders of the Outlook Mining Company as may hereafter join as parties plaintiff” against the directors of that corporation and two trustees to whom the corporation had conveyed its mining property to secure the plaintiff and other bondholders, for an accounting by the defendant directors as to moneys received from one Suessdorf and Nuland,…
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Bill in equity, filed in the Superior Court on January 1, 1912, and afterwards amended, by Royal Bosworth Young “and such other bondholders of the Outlook Mining Company as may hereafter join as parties plaintiff” against the directors of that corporation and two trustees to whom the corporation had conveyed its mining property to secure the plaintiff and other bondholders, for an accounting by the defendant directors as to moneys received from one Suessdorf and Nuland, lessees and intending purchasers of the mining property, and for a decree directing that such moneys be paid over to the…
1Opinion of the CourtSheldon, J.
The plaintiff holds some of the bonds secured by a mortgage given by the defendant corporation to the defendants Simpson and Whittemore as trustees for the bondholders. The suit is brought to enforce the alleged right of the bondholders to the money received by the corporation or its officers under certain agreements made by it first with Suessdorf and then with Nuland as lessees and intending purchasers of its mine.
It is settled that such a suit ought ordinarily to be brought by the trustees, who represent all the bondholders, for whom they are trustees. But the cestuis que trust are not…
2Cases cited17 opinions
- Brewer v. Proprietors of the Boston TheatreMassachusetts Supreme Judicial Court · 1870
- Dunphy v. Traveller Newspaper Ass'nMassachusetts Supreme Judicial Court · 1888
- von Arnim v. American Tube WorksMassachusetts Supreme Judicial Court · 1905
- Delano v. SmithMassachusetts Supreme Judicial Court · 1910
- Greenfield Savings Bank v. AbercrombieMassachusetts Supreme Judicial Court · 1912
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3Cited by9 opinions
- Bartlett v. New York, New Haven, & Hartford RailroadMassachusetts Supreme Judicial Court · 1915
- Whitfield v. KernSupreme Court of New Jersey · 1937
- Camden Trust Co. v. HandleSupreme Court of New Jersey · 1942
- Manning v. CampbellMassachusetts Supreme Judicial Court · 1928
- Steinle v. CommissionerUnited States Board of Tax Appeals · 1930
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