Morgan v. New-York & Albany Rail Road
New York Court of Chancery
This was an appeal from an order of the vice chancellor of the first circuit, appointing a receiver of so much of the property and effects of the New-York and Albany Rail Road Company as might be necessary to satisfy the complainant’s debt and costs.
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This was an appeal from an order of the vice chancellor of the first circuit, appointing a receiver of so much of the property and effects of the New-York and Albany Rail Road Company as might be necessary to satisfy the complainant’s debt and costs. The complainant was a judgment creditor of the corporation, and his execution had been issued to the sheriff of the city and county of New-York, where the office or place of business of the company was kept, and such execution had been returned unsatisfied. The bill was in the usual form of creditors’ bills, but it also contained an allegation…
1Opinion of the Court
The Chancellor.
The counsel for the complainant is in an error in supposing that this is a case in which a judgment creditor can obtain a preference in payment, out of the effects of an insolvent corporation, under the provisions of the revised statutes. The word defendant in the thirty-eighth section of the title relative to the court of chancery, (2 R. S. 173,) would undoubtedly include a corporation as *292well as an individual, if the rights of creditors as against corporations, upon the return of an execution unsatisfied, were not otherwise provided for in the revised statutes. But the…
2Cited by27 opinions
- Hammond v. Hudson River Iron & Machine Co.New York Supreme Court · 1855
- Bangs v. McIntoshNew York Supreme Court · 1857
- Gallagher v. Asphalt Co. of AmericaNew Jersey Court of Chancery · 1903
- Brynjolfson v. OsthusNorth Dakota Supreme Court · 1903
- Warth v. Moore Blind Stitcher & Overseamer Co.Appellate Division of the Supreme Court of the State of New York · 1911
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