Curtiss v. Dean

Citations

• 85 Wash. 435
• 148 P. 581
• 1915 Wash. LEXIS 1287

Syllabus

<p>Corporations- — Receivers—Complaint—Sufficiency. A complaint by a stockholder for the appointment of a receiver for a solvent corporation on the ground of maladministration and mismanagement must allege facts showing maladministration and mismanagement, the general charge of that state of affairs being nothing more than a conclusion.</p> <p>Corporations — -Receivers—Grounds—Mismanagement—Loss. A receiver will not be appointed for a solvent corporation, in the absence of a charge of fraud or infringement of the legal rights of minority stockholders, because the business has been conducted at a loss for a period of time prior to the institution of a suit therefor, nor because the minority stockholders believe the policy of the majority in the manner of conducting the business and changing the location thereof is hurtful to the corporate interests.</p> <p>Corporations — Receivers—Grounds — Mismanagement — Salary Increase. The fact that the majority stockholders in a solvent corporation raise the salary of the manager, while the business is conducted at a loss, is not a ground for the appointment of a receiver; since, if such increase is illegal, the remedy is an action to restrain its future payment and for the recovery of any illegal salary which has been previously paid.</p>