[Download] "Berman, Et Al. v. Griggs" by Cumberland Supreme Court of Maine ~ eBook PDF Kindle ePub Free

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eBook details

• Title: Berman, Et Al. v. Griggs
• Author : Cumberland Supreme Court of Maine
• Release Date : January 04, 1950
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 59 KB

Description

This case comes before this court on appeal from the decree of the sitting justice dismissing the bill in equity filed by the plaintiffs as assignees of a Maine corporation known as Associated Builders & Construction Co. The defendants, Clifton T. Griggs and Paul M. Christianson, were in reality the sole active owners of the company, the other defendant, Jacob Agger, an attorney, being joined as party defendant because of the facts which will subsequently appear. The company found itself, in July, 1948, somewhat embarrassed by financial troubles, and, on August 10, 1948, a letter, prepared under the direction of defendant Agger as attorney for the company, was signed by said Agger and mailed to the creditors of the company asking them to be present or be represented at a meeting of creditors of the company to be held at the office of the company on August 13, 1948. The record discloses that a large proportion of the creditors either attended the meeting in person or were represented by attorneys and the business situation of the company was discussed at considerable length. Various procedures were considered and a creditors' committee was suggested. It developed that the warehouse which was the office of the company and which was a valuable piece of property had been deeded by the company on June 22, 1948, to defendants Griggs and Christianson. The corporate records of the company do not disclose any official acts of the board of directors or stockholders with respect to this conveyance and at the creditors' meeting more or less discussion ensued with respect to the defendants Griggs and Christianson reconveying the property to the company in order that it might be considered an asset of the company and be reflected in the financial statements for the benefit of the creditors. A creditors' committee was tentatively named at said meeting held August 13, 1948, and the record discloses that after said meeting of August 13, 1948, defendant Agger addressed another letter to all creditors in which he reported to them the results of said creditors' meeting, and, in addition to giving said creditors considerable information with respect to the company's financial affairs, enclosed in said letter a formal assent for all creditors to sign and asked that the creditors give their formal assent to allow a creditors' committee to operate the business. In said letter which was prepared and signed by said Agger the following statements were made:

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