East Side Bank v. Columbus Tanning Co.

Citations

• 170 Pa. 1
• 32 A. 539
• 1895 Pa. LEXIS 1355

Syllabus

<p>Corporations — Foreign corporations — Insolvency—Preferences—Conflict of laws.</p> <p>The directors of a New York corporation at a meeting held in New York authorized the president of the company to prefer a New York creditor by confessing judgment to him in Pennsylvania, although the corporation was at the time insolvent, and the laws of New York forbid preferences by corporations upon the eve of insolvency: held that distribution was properly awarded to the execution creditor.</p> <p>Such creditor cannot be deprived of his rights under the judgment because the foreign corporation was doing business in Pennsylvania without having complied with the requirements of the Pennsylvania statutes.</p> <p>Corporations — Execution—Preferences.</p> <p>The property of a private corporation having no public duties to perform may be taken in execution and sold under an ordinary writ of fieri facias.</p>