Dudley v. Dakota Hot Springs Co.
South Dakota Supreme Court
Appeal from circuit court, Fall River county. Hon. William Gardner, Judge. > Action by Erwin G. Dudley against the Dakota Hot Springs Company and others for an accounting and a dissolution of the corporation and appointment of a receiver. William P. Phillips intervenes. There was a judgment for plaintiff, and certain defendants appeal. The facts are stated in the opinion. The trial court had no power to appoint a receiver and thereby dissolve the corporation.
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Appeal from circuit court, Fall River county. Hon. William Gardner, Judge. > Action by Erwin G. Dudley against the Dakota Hot Springs Company and others for an accounting and a dissolution of the corporation and appointment of a receiver. William P. Phillips intervenes. There was a judgment for plaintiff, and certain defendants appeal. The facts are stated in the opinion. The trial court had no power to appoint a receiver and thereby dissolve the corporation. Thompson on Corp. § 6823; Angelí & Ames on Corp. § 777; State v. Bloom, 5 Johns. Cham. 381; Neallv. Hill, 16 Cal. 150; Verplankv.…
1Opinion of the Court
Fuller, ,7.
In conformity with the complaint of a stockholder on his own behalf, ‘ ‘and all others similarly situated, ” alleging that the defendant corporation owns property, the value of which is greatly in excess of its liabilities, and which the managing officers and principal shareholders, made defendants herein, are sacrificing by fraud and mismanagement, the ) court entered judgment; upon a referee’s findings of fact and conclusions of law, decreeing that such officers be removed, the corporation dissolved, and a receiver appointed to wind up its corporate affairs. This appeal is by the…
2Cases cited9 opinions
- Folger v. Columbian InsuranceMassachusetts Supreme Judicial Court · 1868
- Verplanck v. Mercantile InsuranceNew York Court of Chancery · 1831
- La Société Française D'Epargnes et de Prévoyance Mutuelle v. Dist. Court of the Fifteenth Judicial Dist.California Supreme Court · 1879
- French v. GiffordSupreme Court of Iowa · 1870
- Republican Mountain Silver Mines, Ltd. v. BrownCourt of Appeals for the Eighth Circuit · 1893
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3Cited by5 opinions
- Riley v. Callahan Mining Co.Idaho Supreme Court · 1916
- Gates v. McGeeSouth Dakota Supreme Court · 1901
- Dudley v. Dakota Hot Springs Co.South Dakota Supreme Court · 1899
- Kelly v. Fargo Mercantile Co.South Dakota Supreme Court · 1902
- State v. Buffalo ChipSouth Dakota Supreme Court · 2020