In re New Orleans Auxiliary Sanitary Ass'n

Citations

• 109 La. 133
• 33 So. 111
• 1902 La. LEXIS 124

Syllabus

<p>CORPORATIONS — ENFORCEMENT OF DEBTS— LIQUIDATION.</p> <p>1. The city of New Orleans granted to the New Orleans Auxiliary Sanitary Association the use of certain ground along the river front for the erection of public baths, pumps, machinery, etc., with the understanding that at the expiration of the period of the grant, or sooner (should the association cease to be a going concern), the ground should revert to the city, together with the buildings and improvements erected thereon, but that the city, in taking over the property, should pay to the association the value of the improvements, etc. The association having ceased to be a going concern and its affairs being in process of liquidation, with debts to pay, it is held that the least that can be said of the city’s obligation is that it should supply the money to pay the debts, or else let the property, or as much of it as may be necessary, go to sale in order to realize the amount requisite to pay the debts.</p> <p>(Syllabus by the Court.)</p>