Ferry v. Bank of Central New York
New York Supreme Court
Motion for judgment. This action was commenced against the defendant to procure its dissolution, and the distribution of its property among creditors and stockholders, on the ground of its alleged insolvency, pursuant to the provisions of sections 39-41 of the article of the Revised Statutes, entitled “ Of proceedings against corporations in equity.”
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Motion for judgment. This action was commenced against the defendant to procure its dissolution, and the distribution of its property among creditors and stockholders, on the ground of its alleged insolvency, pursuant to the provisions of sections 39-41 of the article of the Revised Statutes, entitled “ Of proceedings against corporations in equity.” (2 Rev. Stats., 461.) A receiver of the defendant’s property was appointed, and it was enjoined from doing any further business, by an order of the court made in October, 1857, which order the defendant moved to vacate at a special term held in…
1Opinion of the CourtMullen, J.
The order granted in January, 1858, swept away every thing that had been done in the suit up to that time. The bank having, in the moving papers, denied many of the most material allegations in the complaint, and prayed leave to come in and defend, permission to answer was granted by the order referred to.
But the court having restored the bank to its directors, it was] very proper to provide that the plaintiff should be permitted to discontinue his suit. Twenty days were allowed him in which *103to determine whether he would elect to discontinue, and to serve a notice of his election on the…
2Cited by2 opinions
- Pickel v. PickelSupreme Court of Missouri · 1913
- Christy v. LibbyNew York Supreme Court · 1867