In re Huffman-Salvar Roofing Paint Co.
District Court, N.D. Alabama
In Bankruptcy. In the matter of the Huffman-Salvar Roofing Paint Company, bankrupt. On petition of trustee to enforce stockholders’ liability.
1Opinion of the Court
GRUBB, District Judge.
This proceeding is based on a petition filed by the trustee in bankruptcy in the bankruptcy proceeding, to enforce against the respondents the liability created by the Constitution and laws of Alabama of stockholders, where subscriptions to the capital stock of the corporation are paid by the transfer of property, alleged to have been fraudulently overvalued. The bankrupt has insufficient assets to satisfy its debts, apart from the alleged stockholders’ liability. The stock was paid for by the transfer to the corporation of a supposed secret formula for the manufacture…
2Cases cited13 opinions
- Scovill v. ThayerSupreme Court of the United States · 1882
- Coit v. Gold Amalgamating Co.Supreme Court of the United States · 1886
- Elyton Land Co. v. Birmingham Warehouse & Elevator Co.Supreme Court of Alabama · 1890
- Van Cott v. . Van BruntNew York Court of Appeals · 1880
- Boynton v. . HatchNew York Court of Appeals · 1872
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3Cited by6 opinions
- DENNISTON & CO., INC. v. JacksonCourt of Civil Appeals of Alabama · 1985
- Thomason v. MillerCourt of Appeals of Texas · 1928
- Morris v. SampsellWisconsin Supreme Court · 1937
- State Bank of Commerce v. Kenney Band Instrument Co.Supreme Court of Minnesota · 1919
- Hicklin v. CummingsSupreme Court of Iowa · 1931
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