Turner v. Western Hydro-Electric Co.

The plaintiff, who is a minority stockholder in the defendant company, filed this bill to wind up its affairs, to have its assets distributed among the stockholders, to have a receiver appointed and an accounting from certain of its officers who have been in active management and control of the company’s business. The theory of the bill is that the charter of the corporation was annulled by forfeiture on December 21, 1923, for failure to comply with the corporation tax law; that, on the happening of that event, the title to the corporate property became vested in the stockholders as tenants…