Yorks v. Altmiller

Citations

• 270 Pa. 438
• 113 A. 415
• 1921 Pa. LEXIS 409

Syllabus

<p>Corpomtions—Receivers—Sale—Reorganized company — Fraud •—Laches—Collateral attach on decree—Equity.</p> <p>1. Dissatisfied stockholders of an insolvent corporation in the hands of a receiver cannot sit by and do nothing- when the receiver is appointed and the company’s property sold, and then seek by a bill in equity to have all the proceedings set aside, where it . appears that the bill was not filed until four years after the receiver was appointed and six months after he was discharged, that the title to the company’s property had changed, that new liens had been created on it, and new rights had become fixed, and that a charge of conspiracy to defraud was not sustained by the evidence.</p> <p>2. On such hill, technical objections to the receivership proceedings and to the conduct of the receiver, cannot he collaterally raised. They should have been raised in the receivership suit.</p>