New York Life Ins. v. Beard
U.S. Circuit Court for the District of Kansas
This is a bill in the nature of a creditors’ bill, on behalf of the complainant and such other creditors of the defendant corporation as may desire to join the complainant in this suit.
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This is a bill in the nature of a creditors’ bill, on behalf of the complainant and such other creditors of the defendant corporation as may desire to join the complainant in this suit. The complainant avers that on the 4th day of February, 1895, it recovered a judgment in this court against the Wyandotte Loan & Trust Company, a corporation organized under the laws of this state, for the sum of $12,249.44 and costs; that said judgment has never been reversed or modified, aud that the same still remains unpaid and unsatisfied; that said defendant corporation is wholly and hopelessly insolvent.…
1Opinion of the CourtFoster, District Judge
(after stating the facts as above). It is a well-settled principle of law that when a statute gives a new right, and prescribes the remedy for its enforcement, that the remedy is exclusive, and must be strictly followed. Morley v. Thayer, 3 Fed. 737-741, and cases cited; Pollard v. Bailey, 20 Wall. 527. Section 32 of chapter 23 of the General Statutes, based on section 2 of article 12 of the constitution, gives a new right to creditors of corporations, and also gives the creditor his choice of procedure to enforce it. He has a special remedy by motion in the same court where the judgment is…
2Cases cited26 opinions
- Upton v. TribilcockSupreme Court of the United States · 1875
- Sanger v. UptonSupreme Court of the United States · 1875
- Sawyer v. HoagSupreme Court of the United States · 1873
- Hawkins v. GlennSupreme Court of the United States · 1889
- Insurance Co. v. BaileySupreme Court of the United States · 1871
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