Rinn v. Astor Fire Insurance
New York Court of Appeals
Appeal by James Yearance, receiver of defendant, from order of the General Term of the Supreme Court in the fourth judicial department, reversing an order of Special Term denying a motion to compel said James Yearance, as receiver, to pay the judgment heréin, and directing said receiver to pay such judgment. This action was brought in 1870, upon a policy of insurance issued by defendant.
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Appeal by James Yearance, receiver of defendant, from order of the General Term of the Supreme Court in the fourth judicial department, reversing an order of Special Term denying a motion to compel said James Yearance, as receiver, to pay the judgment heréin, and directing said receiver to pay such judgment. This action was brought in 1870, upon a policy of insurance issued by defendant. In 1871, defendant became insolvent, and proceedings, by action, was commenced against it, in the. Supreme Court in the city of New York, by one Albert C. Bage, a creditor, under the provisions of the Revised…
1Opinion of the CourtAndrews, J.
Article 2, title 4, of the Revised Statutes, entitled, “Of proceedings against corporations in equity” (2 R. S , 462), authorizes compulsory proceedings to be taken for the dissolution of an insolvent corporation and the distribution of its assets among its creditors. They may be instituted by a judgment creditor of the corporation, or, in cases under the thirty-ninth section, by the attorney-general or a stockholder.
The remedy given by the statute may be obtained in an action brought against the insolvent corporation; and when brought by a creditor he may make the directors or stockholders,…
2Cases cited2 opinions
- In the Matter of Harmony F. M. Ins. Co.New York Court of Appeals · 1871
- In re IngrahamNew York Court of Chancery · 1846
3Cited by1 opinion
- Burger v. . BurgerNew York Court of Appeals · 1888