Kellos v. Parker-Sharpe, Inc.

Hill, Justice.

Plaintiff brought a complaint in equity to compel the defendants to transfer certain shares of corporate stock to her, to appoint a receiver, to compel an accounting, to liquidate the assets of the corporation, and for $350,000 in damages. In her complaint she alleged that the four individual defendants were in default on certain promissory notes (four identical notes in face amount of $25,000 eách). Those notes were each secured by 2,500 *131shares of stock in the defendant corporation, Parker-Sharpe, Inc., to be held by the payee as collateral. The notes were dated October 27,…