9 Del. Ch. 324 | New York Court of Chancery | 1912
A receiver of the Standard Aims Company was appointed by this Court on the ground of its insolvency, and the receiver has sold all its property and assets, and is about ready to make distribution of the proceeds thereof
What reasons are assigned why the petitioners, rather than the present or substituted receiver, should bring the suit for
It is urged for the petitioners that from correspondence there appear reasons why the present receiver should not bring the suit; but assuming this to be true, it is not sufficient reason why the petitioning stockholders should have leave to bring the suit. The affairs of the receivership are practically settled, and very speedily the duties of the present receiver will be so concluded as that the receiver will be allowed, according to its commendable offer, to resign and another receiver be appointed, and the person so chosen will be a person free from even a lack of sympathy with the object sought by the petitioners. In this way it seems that all the rights of persons interested will be conserved.
As at present advised, then, the Court will deny the prayer of the petitioner for leave to bring the suit referred to therein.
Let an order be entered accordingly.