Soghomonian v. Garabedian
Massachusetts Supreme Judicial Court
Bill in equity, filed in the Superior Court on April 20, 1917, by three stockholders in the Northern Brass Company, a corporation, one of whom, the plaintiff Boyajian, was alleged also to be a judgment creditor of that corporation, against five other stockholders in the corporation, two of whom were directors, seeking to restrain the foreclosure of certain mortgages executed by the corporation, as described in the bill, to cancel those mortgages and for an accounting, on the…
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Bill in equity, filed in the Superior Court on April 20, 1917, by three stockholders in the Northern Brass Company, a corporation, one of whom, the plaintiff Boyajian, was alleged also to be a judgment creditor of that corporation, against five other stockholders in the corporation, two of whom were directors, seeking to restrain the foreclosure of certain mortgages executed by the corporation, as described in the bill, to cancel those mortgages and for an accounting, on the ground that the mortgages in question were not authorized by a valid vote passed at a proper meeting of the board of…
1Opinion of the CourtDe Cotjrcy, J.
The plaintiffs are stockholders in the Northern Brass Company, and brought this suit to restrain the defendants from foreclosing two mortgages held by them on the real and personal property of that corporation. The bill alleges that the meeting of the directors at which the mortgages were authorized was not a legal one, and that the mortgages as executed were not authorized by the votes that were passed. The trial judge dismissed the bill on the ground that the mortgagor, the Northern Brass Company, had not acted nor been requested to act in the matter.
The judge was right. The remedy should…
2Cases cited2 opinions
- Bartlett v. New York, New Haven, & Hartford RailroadMassachusetts Supreme Judicial Court · 1915
- Bartlett v. New York, New Haven, & Hartford RailroadMassachusetts Supreme Judicial Court · 1917
3Cited by2 opinions
- Uccello v. Gold'n Foods, Inc.Massachusetts Supreme Judicial Court · 1950
- Moss v. CopelofMassachusetts Supreme Judicial Court · 1920