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Alexandria Gazette
Alexandria, Alexandria County, District Of Columbia
What is this article about?
Arguments began yesterday in U.S. District Court in Norfolk before Judge Waddill in the case of Jamestown Exposition Company receivers suing over 1,300 delinquent stock subscribers. Defense challenged collective suing, court jurisdiction, and receivers' right to sue before asset insufficiency determination. Proceedings ongoing at adjournment.
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Argument in the case of the receivers of the Jamestown Exposition Company against upward of 1,300 subscribers to exposition stock, alleged to be delinquent in payment, was yesterday commenced before Judge Waddill in the United States court at Norfolk.
The right of the receivers to sue the subscribers collectively instead of individually at common law was denied by attorneys for the defense, the jurisdiction of the United States court was demurred to and finally it was argued that the receivers have no right to sue until it may be found that the assets of the company are not sufficient to meet its liabilities. Argument was still in progress when court adjourned.
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Where did it happen?
Domestic News Details
Primary Location
Norfolk
Event Date
Yesterday
Key Persons
Outcome
argument in progress when court adjourned
Event Details
Argument in the case of the receivers of the Jamestown Exposition Company against upward of 1,300 subscribers to exposition stock, alleged to be delinquent in payment, was commenced before Judge Waddill in the United States court at Norfolk. The right of the receivers to sue the subscribers collectively instead of individually at common law was denied by attorneys for the defense, the jurisdiction of the United States court was demurred to and finally it was argued that the receivers have no right to sue until it may be found that the assets of the company are not sufficient to meet its liabilities.