Alling v. Wenzel
Illinois Supreme Court
Appeal from the Appellate Court for the- First'District;— heard in that court on appeal from, the Superior Court of Cook county; the Hon. Henry M. Shepard, Judge, presiding.
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Appeal from the Appellate Court for the- First'District;— heard in that court on appeal from, the Superior Court of Cook county; the Hon. Henry M. Shepard, Judge, presiding. This was a bill in chancery, filed in the Superior Court of ■Cook county, by William T. Wenzel & Co., for themselves and the creditors of the Papillon Manufacturing Company, against said company and its stockholders, to collect its assets and wind up the corporation, under the act relating to corporations. The bill alleged that the corporation was organized on or about the 7th day of February, 1883, under the laws of this…
1Opinion of the CourtChief Justice Shope
This bill is filed by and in behalf of creditors of an insolvent corporation,—the Papillon Manufacturing Company,—and its stockholders, to subject their unpaid subscriptions for stock to-the payment of the debts of the company, and to wind up and close its affairs.
» Section 8 of the act in reference to corporations for pecuniary profit creates a liability against stockholders for the amount , unpaid upon their capital stock. That section provides : “Bach . stockholder shall be liable for -the debts of the corporation to , the extent of the amount that may be unpaid upon the stock held by him,…
2Cases cited6 opinions
- McJilton v. LoveIllinois Supreme Court · 1851
- Melvin v. Lamar InsuranceIllinois Supreme Court · 1875
- Union Mutual Life Insurance v. Frear Stone Manufacturing Co.Illinois Supreme Court · 1881
- St. Louis & Sandoval Coal & Mining Co. v. Sandoval Coal & Mining Co.Illinois Supreme Court · 1886
- Enos v. CappsIllinois Supreme Court · 1850
1 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Coleman v. HoweIllinois Supreme Court · 1895
- Davies v. BallWashington Supreme Court · 1911
- First National Bank v. Peoria Watch Co.Illinois Supreme Court · 1901
- Keith v. KilmerCourt of Appeals for the First Circuit · 1919
- Chrisman-Sawyer Banking Co. ex rel. Simpson v. Independence Wool Manufacturing Co.Supreme Court of Missouri · 1902
16 more not listed; retrieve them via the Exa API.