Summary

Equitable Life Assurance Society of the United States v…

Taking all the averments of the bill together, there is not any foundation for apprehension as to the entire solvency of defendant. To place the institution in the hands of a receiver, while it is paying promptly all its obligations, and with undoubted resources to continue to pay them, and is daily engaged in taking new business, under other and different management, would be a premature and wholly unnecessary ending of the defendant, and one which it would be mild to characterize as ruinous to the interests of hundreds of thousands of people, and really beneficial to none.
Source: Wikisource

Equitable Life Assurance Society of the United States v…

If there are others similarly situated as to claims, they can themselves commence an action. The defendant is not in court, asking it to take jurisdiction of its suit against others in order to prevent a multiplicity of suits against it or by it. It does not rest with complainant to urge, as a foundation for his suit, that the defendant may thereby be saved a multiplicity of suits by other parties when the defendant raises no objection to such possible suits, and urges no such ground for jurisdiction in equity of the complainant's suit.
Source: Wikisource

Equitable Life Assurance Society of the United States v…

Even if a court of equity had jurisdiction in a case like this, it is yet proper to consider the history of the defendant subsequent to the filing of the bill by complainant, with reference to the results which might and probably would follow a decree of the court in accordance with the demand of the complainant. The corporation is one of the largest in the world with its more than half million policy holders, its outstanding risks of an amount almost impossible to appreciate, and with assets and liabilities and surplus reaching into hundreds of millions of dollars in amount.
Source: Wikisource

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