Page v. Moore

Citations

• 239 Pa. 285
• 86 A. 855
• 1913 Pa. LEXIS 554

Syllabus

<p>Corporations — Insolvency — Directors — Preference — Equity —Findings of fad.</p> <p>1. An insolvent corporation cannot transfer its assets to its own officers and directors for the purpose of securing them for preexisting indebtedness, Where an insolvent corporation has executed an assignment for such purpose, a court of equity will decree the same to he null and void at the suit of the trustee in bankruptcy of the corporation, and will order a reconveyance and an accounting.</p> <p>2. Findings of fact by a chancellor will not be disturbed unless clearly shown to be erroneous.</p>