Harned v. Beacon Hill Real Estate Co.

Citations

• 9 Del. Ch. 411

Syllabus

<p>Under general corporation law (22 Del. Laws c. 391) § 13, which, provides that, on dissolution of a corporation organized under the act, the Court of Chancery may “at any time” appoint a receiver to settle the unfinished business of the corporation, a corporation dissolved for nonpayment of franchise taxes is properly made a party defendant in a receivership action, unaffected by section 40 which provides that dissolved corporations shall be continued for three years to settle their affairs. '</p> <p>Under the statute, the Court of Chancery may appoint a receiver o£ a dissolved corporation more than three years after the dissolution.</p> <p>o A receiver for a dissolved corporation should not be appointed in an ex parte proceeding, if there arc any of its officers in existence who could be served with process, and the corporation must be made party defendant.</p>