Badenhausen Co. v. Kidwell

Citations

• 12 Del. Ch. 370
• 107 A. 297
• 1919 Del. LEXIS 9

Syllabus

<p>Where the Chancellor at suit of a stockholder of an insolvent corporation appointed a receiver, the Chancellor may on proper showing authorize the receiver to continue the business for purpose of conserving the assets and restoring the corporation to a condition of solvency; and, where it appears that the corporation has attained a condition in which it can meet its obligations in the usual course of business, or there is a reasonable prospect its business can be successfully contihued, notwithstanding any deficiency of assets, the Chancellor may discharge the receiver and permit the corporation to resume business.</p>