Gilman v. Green Point Sugar Co.
New York Supreme Court
APPEAL by the defendant from an order appointing a receiver, before answer or judgment. The action was commenced by the plaintiff as a stockholder of the above company, to procure a dissolution, on the ground that the corporation had suspended its ordinary and lawful business for one year.
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APPEAL by the defendant from an order appointing a receiver, before answer or judgment. The action was commenced by the plaintiff as a stockholder of the above company, to procure a dissolution, on the ground that the corporation had suspended its ordinary and lawful business for one year. (2 B. S. 464, § 38. Id. 706, § 46,4i/t ed.) The capital of the company is $150,000, divided into 1500 shares, of which the plaintiff claims to own 447; and the application was resisted on behalf of all the other stockholders. The allegations in the complaint to prove the suspension of business, were, that…
1Opinion of the CourtIngraham, P. J.
The plaintiff, as a stockholder, sues the defendant, claiming a dissolution of the company, on the ground that- the business of the company had been *17suspended more than a year. There is no difficulty as to all the points raised, except that which relates to the right of the plaintiff, being a mere stockholder, to maintain such an action. At special term a receiver was appointed, and from that order the defendant appeals.
The provisions of the Revised Statutes which allow of proceedings against corporations for not continuing business for a year, evidently contemplate proceedings by the…
2Cases cited5 opinions
- Belmont v. Erie Railway Co.New York Supreme Court · 1869
- People v. Northern RailroadNew York Supreme Court · 1869
- The People v. . Northern Railroad Co.New York Court of Appeals · 1870
- Howe v. DeuelNew York Supreme Court · 1865
- Galwey v. United States Steam Sugar Refining Co.New York Supreme Court · 1861
3Cited by1 opinion
- Strong v. McCaggWisconsin Supreme Court · 1882