Argalas v. the Frank Theiss Co.

The bill is filed for the appointment of a receiver and the dissolution of the defendant corporation. It is predicated upon the ground that the defendant company's business has been and is being conducted at a great loss and greatly prejudicial to the interests of its creditors and stockholders, so that its business cannnot be conducted with safety to the public and advantage to the stockholders, and, secondly, upon the general equity jurisdiction of the court to prevent the waste or fraudulent diversion of the corporation's assets, which the stockholders are powerless themselves to prevent.…