Butterworth v. O'Brien

This action is brought by the receiver of the Island City Bank against the defendant, who was president and a director, to recover from him for certain wrongful acts charged against him. The defendant answered to the complaint, denying all the allegations made against him. The case was referred, and the referee has dismissed the complaint as insufficient and containing no cause of action.

*193The referee was clearly right as to all the causes stated in. the complaint except that contained in the 4th clause of the complaint. The claim for dividends improperly declared belongs to creditors and not…