Downing v. Brunswick Realty Co.
This text of 266 A.D. 1 (Downing v. Brunswick Realty Co.) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
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Plaintiff-respondent, as receiver, suing in the right of the judgment debtor who is a stockholder of Brunswick Realty Company, fails to state facts sufficient to constitute [2]*2a cause of action against the corporation. His remedy is against the individuals who wronged the corporation. If, as is alleged, a valuable asset of Brunswick Realty Company was transferred without consideration to another corporation, any action to restore this asset to Brunswick Realty Company belongs to that corporation and to redress this wrong such a suit must be brought in behalf of the corporation. (Koral v. Savory, Inc., 276 N. Y. 215, 217.)
The order should be reversed, with twenty dollars costs and disbursements and the motion to dismiss the amended complaint granted, with leave to serve an amended complaint within ten days after service of order, on payment of said costs.
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Cite This Page — Counsel Stack
266 A.D. 1, 40 N.Y.S.2d 903, 1943 N.Y. App. Div. LEXIS 3475, Counsel Stack Legal Research, https://law.counselstack.com/opinion/downing-v-brunswick-realty-co-nyappdiv-1943.