Platner v. Hughes

I. It is made to appear that the plaintiff was a creditor of the Standard Manufacturing Company, an alleged corporation, to the amount of more than $23,000. After such indebtedness was incurred, such corporation was adjudged bankrupt. Its assets, totaling about $51,000, were applied as a dividend upon its indebtedness, amounting to about $225,000. Plaintiff alleged that the corporation was organized upon a paid-up capital of $20,000, and no more; that the defendants were its directors and general managing officers; and that they knowingly incurred the indebtedness in excess of the limits per*…