Stevens v. Hopson

Section 7347 of the Code of 1923 provides that a judgment creditor of a corporation, having an execution returned, “no propei*ty found,” may, by bill in equity in the circuit court, subject to the payment of his judgment the unpaid subscription of one or more stockholders in such corporation, and section 47 of the Bankruptcy Act (U. S. Comp. St. § 9631), vests the trustee with all the rights, remedies, and powers of a judgment creditor holding an execution duly returned unsatisfied. Moreover, the bill avers the bankruptcy and insolvency of the corporation and that the assets constitute a…