LaSalle Street Trust & Savings Bank v. Topeka Milling Co.

Citations

• 101 Kan. 446
• 167 P. 1036
• 1917 Kan. LEXIS 117

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Corporation — Stockholder as Creditor■■ — ■ When Entitled to Share Equally With Other Creditors. When a stockholder has satisfied all his obligations as such, and there remains nothing by way of unpaid subscription or liability growing out of his relation as stockholder, and he is in good faith a creditor of the corporation, he stands on an equal footing with other creditors and has the samé right to treat the corporation-as a stranger and adversary as they have. Under such circumstances he is not required to stand back until other creditors are satisfied, but may proceed along with them on equal terms.</p> <p>2. Same. Under all the facts and circumstances shown by the record it is held that the intervenor should be permitted to share equally with the plaintiffs in the proceeds of the corporate property -appropriated and sold by them.</p>