Darragh v. H. Wetter Manuf'g Co.

Citations

• 78 F. 7
• 23 C.C.A. 609
• 1897 U.S. App. LEXIS 1655

Syllabus

<p>1. FEDERAL COURTS — ENFORCEMENT OF EIGHTS CHEATED BY STATE STATUTES. ,</p> <p>Eights created or provided by the statutes of the states to be pursued in the state courts may be enforced and administered in the national courts either at law, in equity, or in admiralty, as the nature of the rights or remedies may require.</p> <p>2. Same — Equitable Rights.</p> <p>An enlargement of equitable rights by the statutes of the states may be administered by the federal courts as well as by the courts of the states.</p> <p>3. Sam e.</p> <p>“A party by going into a national court does not lose any right or appropriate remedy of which he might have availed himself in the state courts of the same locality. The wise poliey of the constitution gives him a choice of tribunals.” Davis v. Gray, 16 Wall. 208, 221.</p> <p>4. Same — Creditors’ Bilí, — State Statutes.</p> <p>A contract creditor, who has not reduced his claim to judgment, may maintain a hill in equity in the federal court, under the statutes of the state of Arkansas (sections 1425-1428, Sand. & H. Dig.), for the appointment of a receiver and the sale of the property of an insolvent corporation of that state, and for the distribution of its assets among its creditors.</p> <p>5. Insolvent Corporations — Receivers—Rights of Stockholders.</p> <p>A stockholder of an insolvent corporation, whoso stock is worthless, and cannot be made of any value by the granting of the relief prayed in his bill, cannot maintain a suit to set aside an order appointing the receiver and a decree directing a sale of the properly of the corporation, on the ground that its officers and directors fraudulently colluded with the complainant in the proceeding, to enable it to obtain the order and decree.</p> <p>6. Equitable Relief — Parties Entitled.</p> <p>Courts of equity do not attempt to right wrongs at the suit of those who have not suffered from them, or to grant decrees that can give their suitors no relief.</p> <p>(Syllabus by the Court.)</p>