Farley v. Alabama Terminal & Improvement Co.
Supreme Court of Alabama
Appeal from Birmingham City Court. Heard before Hon. A. D. Sayre. Bill by Hall & Farley as trustees, against the Alabama Terminal and Improvement Company and others, to subject equitable assets of the insolvent corporation to the payment of certain judgments, execution thereon being returned “no property found.” Decree for respondent and complainant appeals.
1Opinion of the CourtMayfield, J.
The bill in this case is by the judgment creditors, to subject equitable assets of an insolvent corporation to the payment of their judgments, after the return of execution, “No property found.” The particular assets sought to be subjected are debts or dioses in action alleged to be due the insolvent corporation from its original stockholders, for their unpaid subscriptions to its capital stock. The equity of the bill for this purpose has once been doubted (if not denied) by this court; but we take it that it has now been settled affirmatively.
This suit, in one form or another, has been many…
2Cases cited32 opinions
- Scott v. NeelySupreme Court of the United States · 1891
- Graham v. Railroad Co.Supreme Court of the United States · 1880
- Watson v. SutherlandSupreme Court of the United States · 1867
- Webster v. UptonSupreme Court of the United States · 1876
- Board of Public Works v. Columbia CollegeSupreme Court of the United States · 1873
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3Cited by29 opinions
- In re Fechheimer Fisher Co.Court of Appeals for the Second Circuit · 1914
- Alabama Power Co. v. ThompsonSupreme Court of Alabama · 1947
- Crowson v. CodySupreme Court of Alabama · 1926
- Phillips v. Sipsey Coal Mining Co.Supreme Court of Alabama · 1928
- Terrell v. NelsonSupreme Court of Alabama · 1917
24 more not listed; retrieve them via the Exa API.