112 Ky. 494 | Ky. Ct. App. | 1902
Opinion of ti-ie court by
Affirming.
Appellee was injured while a passenger on the Kentucky Central Railway Company’s train on September 20, 3891. Two days later, or on September 22, the Kentucky Central Railway Company conveyed all of its property to the Louisville & Nashville Railroad Company. A few weeks after this, appellee filed suit against the Kentucky Central Railway Company, and recovered a judgment, which was finally affirmed by this court. She then filed this suit against the Louisville & Nashville
The deed made by the Kentucky Central to appellant recited a consideration of $10, and the other considerations in the deed named, which other considerations are found in the following clause: “The railroad company now owns the entire Ga.pital stock of the railway company, and this conveyance and transfer is made subject to all the bonded indebtedness and other indebtedness of the said railway company and the said other companies, without in any manner affecting the same, or the rights of the creditors therein -which said railroad and property hereby conveyed are to be operated as required by the laws of the State of Kentucky. In witness whereof, the parties hereto subscribe their respective names, and have caused their corporate seals to be hereto affixed by their duly authorized officers, this date aforesaid.” A deed similar to this was under consideration by this court in the case of Railroad Co. v. Griest, 85 Ky., 619 (9 R. 177) 4 S. W., 333. There the vendee, dealing at arm’s length with the vendor, bought and paid for the property of the old company, and paid what was an adequate consideration therefor. The court held that this money so paid was a fund out of which the person suing the old company for the tort was entitled to have his claim paid, and, if it had been distributed to the stockholders, he could pursue it. In this case the appellant became the owner of the entire capital stock of its vendor, the Kentucky Central Railway Company, before the execution of the deed to it. It appears from the al
‘ The .statute of limitations can not avail in this case, because in the case of Railroad Co. v. Griest, supra, we expressly held that before the person suing the old company for the tort could maintain his> action against a vendee company, in any event, he would first be compelled to reduce his claim to a judgment against the old company. This course was fallowed exactly in this case.
'The judgment must be affirmed, whole court setting.