Ogilvie v. Knox Insurance Company
67 U.S. 539 (1863)

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U.S. Supreme Court

Ogilvie v. Knox Insurance Company, 67 U.S. 2 Black 539 539 (1863)

Ogilvie v. Knox Insurance Company

67 U.S. (2 Black) 539

Syllabus

1. The creditors of an indebted corporation may have the aid of a court of equity against such corporation and its debtors to compel the collection of what is due to it and the payment of the debt it owes.

2. Where a bill for that purpose is brought by some of the creditors and prosecuted to a decree, and afterwards other creditors get judgments and are permitted by the court to come in as parties, with the averment that there are also other debtors of the corporation, who should be compelled to pay for their benefit, the Court cannot make a decree settling the principle of the distribution until the assets are collected and the amounts received from the different classes of debtors ascertained.

3. A decree made before the funds of the corporation are collected that all the honeys recovered or to be recovered shall be distributed among the original complainants, and the several persons who have filed their petitions to be made parties, and appointing a master to state an account is not a final decree in the cause.

4. If the original complainants appeal from such a decree on the ground that it is unjust to them, the appeal must be dismissed as premature.

5. The Court will not be in a condition to make a final decree until all the facts upon which the rights of the parties depend are ascertained.

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