Can a shareholder of a bankrupt corporation bring a claim against the directors of the bankrupt corporation for damages due to their misconduct?
"New York", United States of America
The following excerpt is from Stephan v. Merchants' Collateral Corp. , 176 N.E. 824, 256 N.Y. 418 (N.Y. 1931):
A claim against directors of a bankrupt corporation for damages due to their misconduct passes to, and may be enforced by, the trustee. Bynum v. Scott (D. C.) 217 F. 122.
In these circumstances, how may a stockholder maintain[256 N.Y. 422]a derivative action in the right of a bankrupt corporation?
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