Friendly Home, Inc. v. Shareholders & Creditors of Royal Homestead Land Co.

OPINION

SHEA, Justice.

This is an appeal from the denial of an amended motion to vacate a default judg ment entered in an action to quiet title to a parcel of land located in the city of Woon-socket. We reverse.

The plaintiff is The Friendly Home, Inc. The defendants are the shareholders and creditors of two defunct corporations, Statewide Environmental Development Corp. and Rural Conservation Association, Inc. The defunct corporations were assignees of 60 percent of the stock of another defendant, Royal Homestead Land Company, likewise defunct. Royal Homestead held a right of redemption in the…