In re Canister Co.
District Court, D. New Jersey
In Bankruptcy. In the matter of the Canister Company, bankrupt. On review of order of referee assessing stockholders of the bankrupt company to the extent of the par value of their stock.
1Opinion of the Court
DAVIS, District Judge.
It appears from the proofs submitted in the above-stated cause that in July, 1909, and for some time prior thereto, the Canister Manufacturing Company was and had been in financial difficulties. There seems to have been an understanding between the officers and stockholders, or some of them, of the said company, and the creditors thereof, that a reorganization of the company should take place, and that the creditors of the company should receive stock in the new and reorganized company,. called the Canister Company, for and on account of their claims against the old…
2Cases cited15 opinions
- Scovill v. ThayerSupreme Court of the United States · 1882
- Hawkins v. GlennSupreme Court of the United States · 1889
- Holcombe v. Trenton White City Co.New Jersey Court of Chancery · 1912
- John W. Cooney Co. v. Arlington Hotel Co.Court of Chancery of Delaware · 1917
- See v. HeppenheimerNew Jersey Court of Chancery · 1905
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3Cited by3 opinions
- Crocker v. ChakosCourt of Appeals for the Seventh Circuit · 1928
- Barnitt v. MaxwellCourt of Appeals for the Third Circuit · 1918
- Business Advisory Bureau, Inc. v. StallforthAppellate Division of the Supreme Court of the State of New York · 1941