Gustave B. Garfield v. Leo L. Lowy

Gustave B. Garfield petitioned for the appointment of himself as receiver of the assets of the dissolved American Rolbal Corporation and Leo L. Lowy and Evelyn B. Lowy individually, pursuant to the provisions of New York Stock Corporation Law, McK.Consol.Laws, c. 59, § 106. 1 Petitioner appeals from Judge Byers’ order in the Eastern District of New York dismissing the petition upon the merits under § 106 and under Rule 12(b) of the Federal Rules of Civil Procedure, 28 U.S.C.A. for failure to state a claim upon which relief may be granted.

Section 106 of the Stock Corporation Law provides, with…