Fisk v. Keeseville Woollen & Cotton Manufacturing Co.
New York Court of Chancery
The bill in this case was filed against a manufacturing corporation and its stockholders, by the complainants, in behalf of themselves and all other creditors of the corporation, to close up its concerns; and to charge the stockholders to the extent of their several interests in the capital stock, or to so much thereof as might be necessary to pay the debts of the corporation.
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The bill in this case was filed against a manufacturing corporation and its stockholders, by the complainants, in behalf of themselves and all other creditors of the corporation, to close up its concerns; and to charge the stockholders to the extent of their several interests in the capital stock, or to so much thereof as might be necessary to pay the debts of the corporation. The bill alleged that the corporation became dissolved in fact, on the 24th of March, 1843. And in September of the same year a decree was entered accordingly, upon the bill taken as confessed, referring it to a master…
1Opinion of the Court
The Chancellor.
Upon the argument of this case I had a very strong impression that the decision of the master was wrong, notwithstanding the decision of the supreme court in Bailey & Storm v. Bancker, (3 Hill's Rep. 188.) In that case, the decision is put upon the particular phraseology of the statute under which the personal liability of the individual stockholders was created. And Mr. Justice Bronson, in his opinion, admits that the construction which the court has been compelled to put upon the statute is contrary to the justice of the case. So in this case, at the time when the suits at…
2Cited by3 opinions
- Cushmam v. ShepardNew York Supreme Court · 1848
- Walker v. CrainNew York Supreme Court · 1853
- Walker v. CrainNew York Supreme Court · 1853