Potter v. Emerson-Steuben Corp.

Plaintiff was appointed permanent receiver of the corporation in the judgment in the action of Zaiden v. Emerson-Steuben Corporation. That was an action by a judgment creditor for sequestration under section 70 of the General Corporation Law. The judgment in the Zaiden case directed in substance that the assets of the corporation be sequestered “ for a just distribution thereof among the fair and honest creditors ” as in cases of a “ voluntary dissolution ” and named plaintiff herein the “ permanent receiver ” with the usual powers. The present action is one such a receiver is expressly…