Weslosky v. Quarterman
Supreme Court of Georgia
Motion to vacate order. Before Judge Spence. Dougherty superior court. October 7, 1905. On January 17, 1902, the directors of the Commercial Bank of Albany filed a petition in the superior court of Dougherty county, alleging that the institution was financially embarrassed and unable to meet its obligations, and praying for a receiver to take charge of its assets and wind up its affairs.
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Motion to vacate order. Before Judge Spence. Dougherty superior court. October 7, 1905. On January 17, 1902, the directors of the Commercial Bank of Albany filed a petition in the superior court of Dougherty county, alleging that the institution was financially embarrassed and unable to meet its obligations, and praying for a receiver to take charge of its assets and wind up its affairs. The court appointed one of the directors, Morris Weslosky, receiver, and he entered upon the discharge of his duty as such and' took possession of the assets of the bank. Some twenty-six months thereafter, on…
1Opinion of the CourtFish, P. J.
(After stating facts.) 1. Among the reasons assigned why the refusal of the court to sustain the motion was erroneous are: (1) that the suit authorized to be instituted is premature, as the affairs of the corporation are still being liquidated; there is no certainty that'the shares of its capital stock will be depreciated, or, if so, that they will become depreciated in any particular amount; and (2) because the petitioning stockholders *315have been guilty of laches in failing to institute their suit within a reasonable time. , It would seem that the action, if prosecuted at all, should be…
2Cases cited4 opinions
- Brinckerhoff v. . BostwickNew York Court of Appeals · 1882
- Flynn v. Third National BankMichigan Supreme Court · 1900
- Stephens v. Augusta Telephone & Electric Co.Supreme Court of Georgia · 1904
- Bethune v. WellsSupreme Court of Georgia · 1894
3Cited by8 opinions
- Lamar v. TaylorSupreme Court of Georgia · 1914
- McGregor v. Third National Bank of AtlantaSupreme Court of Georgia · 1905
- Alleman v. SayreWest Virginia Supreme Court · 1917
- Hart v. Guardian Trust Co.Cuyahoga County Common Pleas Court · 1945
- Peoples Bank v. Southern Investment Co.Supreme Court of Georgia · 1927
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