Alabama Central Ry. Co. v. Stokes
Supreme Court of Alabama
Appeal from Montgomey Chancery Court. Heard before Hon. W. L. Parks. Bill by M. C. Stokes, as a stockholder, against the Alabama Central Railway and the other stockholders thereof, except one Wilson, for the dissolution of the corporation and the appointment of a receiver to wind up its affairs. Decree for complainant, and defendants appeal. There is no occasion for the appointment of a receiver.' — Ala.
Read the full summary
Appeal from Montgomey Chancery Court. Heard before Hon. W. L. Parks. Bill by M. C. Stokes, as a stockholder, against the Alabama Central Railway and the other stockholders thereof, except one Wilson, for the dissolution of the corporation and the appointment of a receiver to wind up its affairs. Decree for complainant, and defendants appeal. There is no occasion for the appointment of a receiver.' — Ala. G. & G. Go. v. Shackelford, 137 Ala. 224. The bill was filed under section 50 of Acts 1903, p. 348, and all the stockholders are necessary parties. — Boss v. Am. B. Go., 43 South. 817;…
1Opinion of the CourtAnderson, J.
— The bill in this case evidently proceeds under Acts 1903, p. 338, § 50, being section 3512 of the Code of 1907, and which provides as follows: “Whenever any corporation shall become insolvent, or shall suspend its ordinary business for the lack of funds to carry on the same, any creditors or stockholders, may, by bill or petition, apply to the chancery court of the division in which the corporation has its principal place of business, or to any court in such place possessing chancery jurisdiction, for a writ of injunction and appointment of a receiver, and the dissolution of the…
2Cases cited2 opinions
- Noble v. Gadsden Land & Improvement Co.Supreme Court of Alabama · 1901
- Ross v. American Banana Co.Supreme Court of Alabama · 1907
3Cited by8 opinions
- Belcher v. Birmingham Trust National BankDistrict Court, N.D. Alabama · 1968
- Fairhope Single Tax Corp. v. MelvilleSupreme Court of Alabama · 1915
- Phinizy v. Anniston City Land Co.Supreme Court of Alabama · 1916
- State v. WoodroofSupreme Court of Alabama · 1950
- Cairns v. BetheaSupreme Court of Alabama · 1924
3 more not listed; retrieve them via the Exa API.