Greenbaum v. Lafayette & Broad Realty Corp.

The opinion of the court was delivered by

Minturn, J.

A receiver was appointed, by the vice-chancellor, under the following circumstances, as related in the affidavits pro and con, filed upon the application. The realty company was organized on May 12th, 1923, under our Corporation act, with an authorized capital stock of $15,000. Its incorporators were William L. Greenbaum, Solomon J. Wallach and Louis R. Radin, each of whom subscribed for stock in the sum of $5,000 except Greenbaum, whose subscription was taken over by Wallach to the extent of $2,500. The company was thus financed to the…