Hudson v. Belzoni Equipment Co., 37780

• Decision Date: 07 May 1951
• Docket Number: No. 37780,37780
• Parties: HUDSON v. BELZONI EQUIPMENT CO.
• Court: Mississippi Supreme Court

Page 294

52 So.2d 294

HUDSON v. BELZONI EQUIPMENT CO.

No. 37780.

Supreme Court of Mississippi, Division A.

May 7, 1951.

Green, Green, & Chency, Jackson, for appellant.

Montgomery & Varnado, Belzoni, for appellee.

McGEHEE, Chief Justice.

Some apprehension is entertained by the appellant, W. C. Hudson, that the former opinion rendered herein may be prejudicial to him in the event he should in the future seek redress in a proper proceeding on his complaint in regard to the amount of compensation paid by the directors to themselves as such from the income of the appellant corporation, Belzoni Equipment Company, and as to other grievances that he may have that were not specifically passed on in the said opinion.

As stated in the opinion, the primary purpose of the suit was to obtain the appointment of a receiver and the dissolution of the corporation on the ground that its management was leading to insolvency. We affirmed the action of the trial court in dismissing the bill of complaint, and we based our decision on the failure of the complainant to prove that the corporation was insolvent, or that its management was leading to insolvency. Therein it was stated that 'If the directors have collected compensation to which they are not entitled, redress therefor can be obtained by a proper proceeding, and this decision is without prejudice thereto' ; and we now add that the decision is also without prejudice to his right to seek redress for any other grievances that he may have against either the corporation or its directors that were not necessarily involved and adjudicated in the former opinion. And we think that the opinion heretofore rendered only decided that the complainant was not entitled to the relief sought by him in the matter of having a receiver appointed and a decree for the dissolution of the corporation.

Suggestion of Error and Motion overruled.