McCarthy Co. v. Dubuque District Court

The charter of the Central Lumber & Coal Company, an Iowa corporation, expired January 18, 1925, and has not been renewed. Since the above date, its assets and affairs have been in the possession and under the control of the board of directors and officers thereof.

On September 2, 1925, the M. H. McCarthy Company and T. H. McCarthy, who together own approximately one third of the common stock of the corporation, filed a petition in the office of the clerk of the district court of Dubuque County, praying the appointment of a receiver to wind up the business and affairs of the corporation, and…