CORPORATIONS, § 505 — dismissal of actions by beneficiaries of liquidation trust. In actions by beneficiaries of hotel liquidation trust against trustee and trust managers of property reorganized under federal law to restrain a private sale of the property and for a judicial sale with competitive bidding at not less than a "guaranteed" bid procured by plaintiffs and to have acceptance of a bid declared void, decrees dismissing actions were affirmed where no abuse of trust or incompetence was proved, and trust agreement did not require managers to call for competitive bids, and bidder submitting highest offer with request for opportunity to compete in event of a higher one was not entitled to information from managers as to amounts of other bids.
See Callaghan's Illinois Digest, same topic and section number.
Opinion by JUSTICE KILEY.
Not to be published in full. Opinion filed May 18, 1949; released for publication June 17, 1949.