Hitch v. . Hawley
New York Court of Appeals
Appeal from order of the General Term of the Court of Common Pleas for the city and county of Hew York, made December 19, 1889, which reversed an order of Special Term denying the application for dissolution and granted the motion to dissolve.
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Appeal from order of the General Term of the Court of Common Pleas for the city and county of Hew York, made December 19, 1889, which reversed an order of Special Term denying the application for dissolution and granted the motion to dissolve. This was a special proceeding for the dissolution of a corporation organized August 21, 1883, pursuant to chapter 228 of the Laws of 1811, under the corporate name of the “Importers and Grocers’ Exchange of Hew York/’ to continue for the period of fifty years. The proceeding was initiated by the petition of a majority of the trustees and the practice…
1Opinion of the CourtVann, J.
The question presented by¿liis appeal is whether the court has power to dissolve a corporation organized as an exchange, when it is solvent but doing no business, owing to the diverse interests of its members, upon the petition and consent of a large majority of its trustees and members, in opposition to the wishes of a small minority of both ? Whether courts of equity have inherent power to dissolve corporations, as has been held in some jurisdictions but denied in others, it is unnecessary for us to consider, as the method of effecting corporate dissolution, when prescribed by statute as in…
2Cases cited4 opinions
- Verplanck v. Mercantile InsuranceNew York Court of Chancery · 1831
- Kohl v. LilienthalCalifornia Supreme Court · 1889
- Denike v. New York & Rosendale Lime & Cement Co.New York Court of Appeals · 1880
- In re the Niagara InsuranceNew York Court of Chancery · 1828
3Cited by22 opinions
- In Re the Judicial Dissolution of Kemp & Beatley, Inc.New York Court of Appeals · 1984
- In re the Voluntary Dissolution of Radom & Neidorff, Inc.New York Court of Appeals · 1954
- O'Malley v. Continental Life InsuranceSupreme Court of Missouri · 1938
- Platner v. KirbySupreme Court of Iowa · 1908
- Assets Realization Co. v. HowardNew York Supreme Court · 1911
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