Summary
In Metcoff v. Farr, 337 Ill. App. 662, the question arose whether the chancellor should have ordered a judicial sale as prayed by plaintiffs, and the court held that the complaint failed to state a case for equitable jurisdiction.
Summary of this case from Guettel v. HillebrechtOpinion
Gen. No. 44,692, 44,719. (Abstract of Decision.)
Opinion filed May 18, 1949 Released for publication June 17, 1949
CORPORATIONS, § 505 — dismissal of actions by beneficiaries of liquidation trust. In actions by beneficiaries of hotel liquidation trust against trustee and trust managers of property reorganized under federal law to restrain a private sale of the property and for a judicial sale with competitive bidding at not less than a "guaranteed" bid procured by plaintiffs and to have acceptance of a bid declared void, decrees dismissing actions were affirmed where no abuse of trust or incompetence was proved, and trust agreement did not require managers to call for competitive bids, and bidder submitting highest offer with request for opportunity to compete in event of a higher one was not entitled to information from managers as to amounts of other bids.
See Callaghan's Illinois Digest, same topic and section number.
Appeal from the Superior Court of Cook County; the Hon. FRANK M. PADDEN, Judge, presiding.
Decree and order affirmed. Heard in the third division, first district, this court at the February term, 1949.
Shulman, Shulman Abrams and Teller, Levit Silvertrust, for appellants;
Meyer Abrams, of counsel; Rathje, Kulp, Sabel Sullivan, for appellees;
Joseph J. Sullivan, Jr., of counsel.
Not to be published in full. Opinion filed May 18, 1949; released for publication June 17, 1949.