General Electric Co. v. Penn Heat Control Co.

Statement of the case. A receiver was appointed for the defendant, a dissolved corporation, under section 43 of the General Corporation Law (Rev. Code 1915, § 1957, as amended by 34 Del. Laws, c. 112, § 11), on the application of the complainant, which was both a creditor and stockholder.

After the receiver was appointed, notice was directed to creditors to file their claims on or before a designated date. General Electric Company, the complainant in the bill, filed its claim as a creditor in the amount of $966,970.77.

Franklin Control Company, a stockholder, filed exceptions to the claim of…