Dykman v. Keeney
Appellate Division of the Supreme Court of the State of New York
Appeal, by the plaintiff, William N. Dykman, as receiver of the Commercial Bank, from a judgment of the Supreme Court in favor of;-the defendants, entered in the office of the' clerk of the county of Kings on the 20th day of January, 189J; upon the verdict of a jury rendered by direction of the court.
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Appeal, by the plaintiff, William N. Dykman, as receiver of the Commercial Bank, from a judgment of the Supreme Court in favor of;-the defendants, entered in the office of the' clerk of the county of Kings on the 20th day of January, 189J; upon the verdict of a jury rendered by direction of the court. This action was brought hy the receiver of the- Commercial Bank to recover from the .defendants, directors of that .hank, the amount of a dividend declared by them June 28, 1892, which the plaintiff alleged was not made from the surplus profits arising from the business of the corporation. Among…
1Opinion of the Court
Hatch, J.:
When this ease was before us upon a former appeal we held that the liability created by section 23 of the Stock Corporation Law (Laws of 1892, chap. 688) was tobe treated as a provision for indemnity for loss which the corporation or its creditors might sustain from the payment of an illegal or unauthorized dividend. (Dykman v. Keeney, 10 App. Div. 610.) We do not regard this question now' as an open one or one that we are called upon to further discuss. In fact, the decision upon the former appeal is conclusive of all the questions which are raised by the present record. The…
2Cases cited3 opinions
- Jagger Iron Co. v. . WalkerNew York Court of Appeals · 1879
- Mayer v. . HeidelbachNew York Court of Appeals · 1890
- Dykman v. KeeneyAppellate Division of the Supreme Court of the State of New York · 1896
3Cited by10 opinions
- Union Bank v. . SullivanNew York Court of Appeals · 1915
- McQueen v. First National BankArizona Supreme Court · 1929
- Leary v. Capitol Trust Co.Appellate Division of the Supreme Court of the State of New York · 1933
- Waters v. SpaltNew York Supreme Court · 1948
- Hutchinson v. YoungAppellate Division of the Supreme Court of the State of New York · 1903
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