Smyth-Wales v. John M. Smyth Co.

Appellate Court of Illinois

Smyth-Wales v. John M. Smyth Co.

190 Ill. App. 66

Appellate Court of Illinois·Decided December 21, 1914·No. Gen. No. 20,097·Published

Opinion

Mr. Justice McSurely

delivered the opinion of the court.

4. Injunction, § 88*—what will justify injunction to prevent illegal purchase of stock hy corporation. In an action to enjoin a corporation from illegally purchasing stock of another corporation, evidence that such other corporation increased its stock so that it could use a portion to pay a debt to the defendant corporation would not warrant an injunction, and since the other corporation was not a party to the suit the legality of its increase of stock could not be inquired into. 5. Injunction, § 267*—when injunction will he dissolved. A groundless injunction should not he continued.

Baker, J., dissenting.

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Mr. Justice McSurely

delivered the opinion of the court.

4. Injunction, § 88*—what will justify injunction to prevent illegal purchase of stock hy corporation. In an action to enjoin a corporation from illegally purchasing stock of another corporation, evidence that such other corporation increased its stock so that it could use a portion to pay a debt to the defendant corporation would not warrant an injunction, and since the other corporation was not a party to the suit the legality of its increase of stock could not be inquired into. 5. Injunction, § 267*—when injunction will he dissolved. A groundless injunction should not he continued.

Baker, J., dissenting.

Smyth-Wales v. John M. Smyth Co., 190 Ill. App. 66 (Ill. Ct. App. 1914).

Pincite

190 Ill. App. 66 (Smyth-Wales v. John M. Smyth Co.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.