Monahan v. Kenny

The plaintiff is the owner of a beneficial life interest in twenty-two and one-half per cent of the capital stock of the Monahan Express Company and a director of the corporation. As such director she brought an action on behalf of the corporation against delinquent officers and directors, pursuant to sections 60 and 61 of the General Corporation Law, alleging that the defendants Anna F. Kenny, president, and Elizabeth Agnes Monahan, treasurer, and directors of the corporation, had withdrawn and applied to their own use between $90,000 and $100,000 of the corporate funds and committed other…