Reading Iron Works' Estate

Citations

• 149 Pa. 182
• 24 A. 202
• 1892 Pa. LEXIS 1091

Syllabus

<p>Assigned estate — Corporation—Claims—Damages awarded stockholder who was ousted before insolvency.</p> <p>The claims of ordinary creditors of an assigned estate are not superior to the claim of one who, as an ousted stockholder, by a decree made after the assignment on proceedings instituted before the assignment, is awarded damages for an act antecedent to the insolvency.</p> <p>In the case of Reading Trust Co. v. Reading Iron Works, 137 Pa. 282, the right of the present appellant to receive dividends out of the assigned estate of the Reading Iron Works on the amount thereby awarded to it was finally settled.</p>