Ferguson v. McLean

LOONEY, Justice.

The events leading to the present controversy are these: In December, 1936, the Dallas Mortgage Securities Company, a domestic corporation, was dissolved by the voluntary action of its stockholders, and its president and directors, under the provisions of the statute, became trustees for purposes of liquidation. In February, 1937, three of the trustees instituted a proceeding in the court below, naming the other trustees and the corporation, defendants; plaintiffs tendered their resignation as trustees, and, as stockholders, sought recovery of their respective interests in the…