[Download] "Penn v. Pemberton & Penn Inc." by Virginia Supreme Court " Book PDF Kindle ePub Free
eBook details
- Title: Penn v. Pemberton & Penn Inc.
- Author : Virginia Supreme Court
- Release Date : January 20, 1949
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 61 KB
Description
This is a controversy between the minority and the majority shareholders of Pemberton & Penn, Inc., a solvent corporation. J. Pemberton Penn, at the time of his death in 1947, was a director, president, and owner of 1,500 shares, or one-third of the outstanding stock of the corporation. The other 3,000 shares were owned by George R. Penn, Richard T. Penn, Elizabeth Penn Carter, and Everett E. Carter, who were, and are, officers and directors. J. Pemberton Penn, Jr., and American National Bank & Trust Company qualified as personal representatives of J. Pemberton Penn, and instituted this suit alleging that the purpose for which the corporation was formed had failed, praying that the corporation be dissolved, and that its assets be distributed under the supervision of the court. A decree was entered denying the prayer, and dismissing the bill. Complainants obtained this appeal.
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