Storer v. Ripley

As a corporation’s creditor, plaintiff has brought this action under section 59 of the Stock Corporation Law against officers and directors of the corporation to recover the amounts of loans made by the corporation to its stockholders. Plaintiff commenced action on his claim against the corporation in 1951, and judgment was docketed thereon May 25,1954. The loans in question were made in 1952. This, action was commenced in March of 1957. Defendants claim they have repaid the loans, and defendant Ripley counterclaims, alleging breach of a contract of employment.

Before the court now are…