John H. Bosworth, as Receiver of the Genesee National Savings and Loan Association, Appellant v. Charles M. Allen…

Summary

The New York Court of Appeals reversed the lower court's order sustaining demurrers, holding that corporate directors are liable as trustees and may be compelled to account for breaches of fiduciary duty, that an action to set aside a contract arising from the same conspiracy may be joined with the accounting action, and that the complaint therefore may proceed.