Utica Mutual Insurance v. Easton Structural Steel Co.

Opinion by

Mr. Justice Linn,

Claiming a right to priority of payment, plaintiff’s bill prayed a decree that a trust in its favor resulted from defendants’ liquidation of Easton Structural Steel Company, Inc., and that an account be filed and the claim be paid. At the trial the facts were stipulated. The learned court below held that plaintiff was entitled to priority. Defendants appeal.

The Easton Structural Steel Company, Inc., hereafter to be called the Easton company, is a New Jersey corporation. It does not appear what the company was incorporated to do. It transacted some business in New…