New York Supreme Court June 15, 1889 (Varnum v. Hart)

Barker, P. J.

The receiver, who represents the creditors and stockholders of the corporation, attacks the validity of the several judgments rendered in favor of the bank, Hart, Miller, andElwanger, on the ground that they are void, and a fraud upon the statute enacted for the purpose of securing equality in the distribution of the property and assets of insolvent corporations among its creditors,