Carle v. International Clay Products Co.

The Chancellor.

The defendant was duly dissolved under the General Corporation Law. (22 Del. Laws, c. 167). Upon the dissolution of a corporation, the directors were formerly constituted *167by Sections 41 and 42 of the act trustees with certain powers for the purpose of settling the corporation’s affairs. The Chancellor was authorized by Section 43 upon the application of a creditor or stockholder to continue the directors of dissolved corporations as trustees, or to appoint a receiver. But a receiver would not be appointed under Section 43 to take over from the director-trustees the duty of…