Keane v. Moffly

Citations

• 217 Pa. 240
• 66 A. 319
• 1907 Pa. LEXIS 690

Syllabus

<p>Corporations — Stockholders — Insolvent corporation — Reorganization committee — Assessments—Time limit.</p> <p>Where the reorganization committee of stockholders of an insolvent corporation offer a plan of reorganization to the stockholders, with a time limit within which assessments on the stock to carry out the plan are to be paid, a stockholder who has not paid his assessment within the time specified has no standing thereafter to compel the committee to receive the assessment merely because the committee has accepted assessments from other stockholders after the time specified had expired.</p>