Case ID: f_92/html/0028-01.html
Source: Caselaw Access Project
Author: {"author": "WHEELER, District Judge.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

FRENCH et al. v. UNION PAC. RY. CO. et al.
    (Circuit Court, S. D. New York.
    February 22, 1899.)
    Equitable Jurisdiction — Enjoining Actions at Law.
    An insolvent corporation cannot maintain a bill to restrain creditors from prosecuting actions on their respective claims, on the ground of preventing a multiplicity of suits, when such creditors are seeking to reach equitable assets of the Corporation, to do which it is necessary that they should obtain judgments on their claims.
    In Equity.
    Rush Taggart, for plaintiffs.
    George H. Yeaman, for defendants.
   WHEELER, District Judge.

This is a cross bill filed by the defendant the Union Pacific Railway Company in the original cause, decided upon the demurrer of the receivers to restrain a multiplicity of suits upon the guaranties, which has heen heard on demurrer. 92 Fed. 26. The defendant does not admit that the two suits already brought are sufficient, so far as proceedings at law may be required, for reaching equitable assets; nor that valid judgments by some would be sufficient for all. The plaintiffs cannot properly be restrained from taking such steps as may be necessary to reach equitable assets, if any such should come within reach. No equitable ground for maintaining this bill is, in any view, made to appear. Demurrer sustained.