Modern Workmen of the World v. Wheatley
Modern Workmen of the World v. Wheatley
Opinion of the Court
delivered the opinion of the Court:
It appears by reference to our former opinion that the Koyal Insurance Company had taken over the liabilities of the Modern Workmen of the World to its policy holders, and the Modern Workmen of tlie World had accepted the transfer and fully retired from the business. We there directed the appointment of “a receiver for the Koyal Insurance Company,” and further ordered “that Masters and Kiimear deliver to him the assets of the Koyal Insurance Company derived from the Modern Workmen of the World, as shown in the auditor’s report. 1 u the event any of these assets have been converted into money, they shall he made to account for the money, with interest from the date of its receipt; also to surrender the hooks and records of the Koyal Insurance Company.” A receiver has been appointed by the court below, and the order of this court is being carried into effect.
It is unnecessary to consider appellant Modern "Workmen of the World Society, since it was incorporated after fhe original suit was begun as a sort of holding company for the Modern Workmen of the World. Indeed, counsel for appellant so treats these corporations in his brief, where lie says: “It would seem apparent that the Modern Workmen of the World and the Modern Workmen of the World Society, which are the same thing, should be allowed to become parties to the suit.” In other woi’ds, the Modem "Workmen of the World Society, having been incorporated to take over the assets and liabilities of the Modem Workmen of the World, would possess no greater rights than the original corporation.
In the original suit in which the receiver was appointed, it was held that the Modem Workmen of the World had no interests left which could be involved in the present controversy.
The decree denying the petition was right, and is affirmed, with costs. A ffirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.