Stiefel v. New York Novelty Co.
New York Supreme Court
Action by receiver of the New York Novelty Oompapny for an accounting by defendants Schwab of property of the corporation alleged to have been delivered to them, in contravention of section 48 of the Stock Corporation Law.
1Opinion of the CourtBischoff, J.
The plaintiff brings this action to compel the defendants Isabella and Sophia Schwab to account for certain sums paid to them by the corporation, of which he is the permanent receiver, and for an accounting by the defendant Ada Schwab of the proceeds of two promissory notes, transferred to her by the corporation, it being alleged that these payments and transfers were made with an intent to give a preference to these defendants at a time when the insolvency of the corporation was imminent, and, accordingly, were open to attack in behalf of the corporation’s creditors under section 48 of the…
2Cases cited1 opinion
- In re StonebridgeNew York Supreme Court · 1890