Section 52. If the charter of the corporation expires or is annulled, or if the corporation is dissolved as provided in section fifty, or if its corporate existence for other purposes is terminated in any other manner, the supreme judicial or superior court, upon application of a creditor, stockholder or member, shall have jurisdiction in equity to appoint one or more receivers to take charge of its estate and effects and to collect the debts and property due and belonging to it, with power to prosecute and defend suits in its name or otherwise, to appoint agents under them and to do all other acts which might be done by such corporation, if in being, which may be necessary for the final settlement of its unfinished business. The powers of such receivers and the existence of the corporation may be continued as long as the court finds necessary for said purposes.
Notes of Decisions
In re Milestone Educ. Inst., Inc., 167 B.R. 716 (Bankr. D. Mass. 1994).
“e judicial or superior court, upon application of a creditor or stockholder, shall have jurisdiction in equity to appoint one or more receivers to take charge of its estate and effects and to collect the debts and property due and belonging to it, with power to prosecute and…”
Davenport v. Attorney Gen., 280 N.E.2d 193 (Mass. 1972).
“He relies upon G. L. c. 155, § 52, placing such jurisdiction in equity in this court and in the Superior Court.”
Antoine v. James E. Nelson Co., 265 Mass. 214 (1928).
“It is alleged that the creditors, whose claims the United States District Court ordered Butler to pay, claim “a lien on the assets that revested to the bankrupt.”
Massaro v. Vernitron Corp., 102 F.R.D. 210 (D. Mass. 1984).
“Nor does this Court find the O’Rourke case, which turns on the common law right of estate administrators to sue or compromise claims on behalf of the estate, applicable to the instant situation.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.