Converse v. Hamilton
United States Supreme Court
224 U.S. 243, 32 S. Ct. 415 (1912)
- Written by Mary Phelan D'Isa, JD
Facts
A Minnesota court found that a Minnesota corporation was insolvent and appointed a receiver. The court also found, under Minnesota law, that it was necessary to invoke the double liability of stockholders to pay creditors and levied assessments amounting to 100 percent of the par value of the stockholders’ shares. The receiver was then directed to prosecute actions within or without Minnesota to enforce the assessment. The Minnesota receiver brought actions in Wisconsin to recover the assessments. The Wisconsin shareholders were not made parties to the action and were not notified of the actions other than by publication or mail of the Minnesota receiver’s actions. The Wisconsin court refused to enforce the Minnesota assessments because the court found them contrary to Wisconsin policy. The Minnesota receiver appealed and argued that the Minnesota assessments were entitled to full faith and credit in Wisconsin.
Rule of Law
Issue
Holding and Reasoning (Van Devanter, J.)
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