Jacob Hirshfeld, Suing on His Own Behalf and on Behalf of All Other Creditors of the Madison Square Bank…

Summary

The New York Court of Appeals reversed the Appellate Division and affirmed the trial court's dismissal of a representative action by a creditor of the Madison Square Bank, holding that the plaintiff could not continue the suit after assigning his claim and that the action did not make him a trustee for other creditors; the court also affirmed its jurisdiction to review the appellate order on legal grounds only.