Hanson v. Choynski

Plaintiffs are creditors of the Olson’s Market Incorporated. In September, 1907, it appeared that the corporation was insolvent, and negotiations "were in progress between the defendant and one I. I. Brown, representing the creditors, wherein it was sought to settle the claims of the creditors at thirty cents on the dollar. In order, to consummate these negotiations it was necessary to sell the property of the corporation, and, in addition thereto, for the stockholders to raise a certain amount, which, together with the amount for which the property was sold, Avould aggregate a sufficient…