Pasotti v. United States Guardian Corp.

The Chancellor:

If the so-called certificates of indebtedness be disregarded, all the creditors of the dissolved corporation have been either paid or provided for. Whether the certificates of indebtedness constitute evidences of debt is one of the questions to be answered.

The receivers have in hand for distribution cash, and Liberty Bonds in the amount of approximately fifty thousand dollars.

The authorized stock of the corporation consists of three kinds, viz., first preferred stock (par fifty dollars) of which 3,482 shares are outstanding; second preferred stock (par fifty dollars) of which…