CORPORATIONS - REORGANIZATION - EFFECT OF FORFEITURE OF CHARTER

The charter of a Michigan corporation was forfeited for nonpayment of franchise fees. The statute provided conditions upon the fulfillment of which a forfeited charter might be reinstated. Without fulfilling the conditions and after the expiration of the statutory period during which it was allowed to continue in existence for the purpose of winding up its affairs, the corporation petitioned for reorganization under the Bankruptcy Act. Held, that the petitioner had no corporate existence under the laws of Michigan, and that, therefore, it could not invoke the jurisdiction of the federal bankruptcy court.

In re Columbia Hotel Co. of Kalamazoo, Mich., (D. C. Mich. 1939) 29 F. Supp. 848.