Legal Opinion
Callaghan v. Bailey
New York Court of Appeals
Decided October 12, 1944PublishedCited by 5 opinions
1Opinion of the Court
Lehman, Ch. J.
The plaintiffs, as trustees in bankruptcy of the Prudence Company, Inc., have brought an action against the directors of the debtor corporation to recover moneys of the corporation which, it is alleged, were paid to stockholders in violation of section 58 of the Stock Corporation Law, while the capital of the corporation was impaired; and to recover moneys of the corporation which, it is alleged, were illegally transferred in violation of section 60 of the General Corporation Law. The defendant directors pleaded as a defense that all the causes of action contained in the…
2Cases cited13 opinions
- Dushane v. BeallSupreme Court of the United States · 1896
- Harrigan v. BergdollSupreme Court of the United States · 1926
- Graybar Electric Co. v. New Amsterdam Casualty Co.New York Court of Appeals · 1944
- Jenkins v. International BankSupreme Court of the United States · 1883
- Stephan v. Merchants Collateral Corp.New York Court of Appeals · 1931
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3Cited by5 opinions
- Herget v. Central National Bank & Trust Co.Supreme Court of the United States · 1945
- Hastings v. Byllesby Co. (Granbery)New York Court of Appeals · 1944
- Buchman v. American Foam Rubber CorporationDistrict Court, S.D. New York · 1965
- McBride v. FarringtonDistrict Court, D. Oregon · 1945
- Purves v. ICM Artists, Ltd.District Court, S.D. New York · 1990