New Jersey Court of Chancery December 6, 1927 (Rielly v. P. Rielly & Son)

Backes, V. C.

P. Rielly & Son, a corporation, voluntarily dissolved, and thereafter the Fidelity-Union Trust Company was appointed receiver. To the receiver’s final account stockholders and creditors filed exceptions.

The company, and its owners before its incorporation, were engaged in the leather manufacturing business in Newark for many years, and prospered.