88 N.Y. 623 | NY | 1882
This suit was instituted on behalf of the State by its attorney-general against the defendant corporation to procure its dissolution. No defense was interposed, and judgment by default was entered, terminating the corporate existence, appointing a receiver and reserving further and final relief until the coming in of his report and account. Prior to its presentation a question arose between the receiver and two of the stockholders alleged to have in their possession assets belonging to the corporation. That dispute was sent to a referee for adjustment by virtue of a written stipulation between the parties, and in accordance with the provisions of the statute. (2 R.S. 469, § 73; id. 45, §§ 19-25.) That reference was a separate proceeding not entitled in the action and between persons not as yet parties to it. The referee selected, after having heard the proofs, reported that certain assets of the corporation were in the hands of the two stockholders, who had no right to retain them, so far as they were needed to pay debts and expenses and produce equality of final distribution. No exceptions to the report were filed, and in due season it became final and conclusive upon the parties, and formal judgment might have been entered upon it. (Austin v.Rawdon,
The judgment should be affirmed, with costs.
All concur, except ANDREWS, Ch. J., and TRACY, J., absent.
Judgment affirmed.