Maintainability of company petition fails when petitioner was voided at filing, and later revival cannot cure the defect.

A company petition filed by a corporation that had already been voided under the law of its incorporation was not maintainable. Under the relevant Delaware provision, voiding rendered the corporation's powers inoperative and prevented it from suing or being heard. Although revival could validate prior acts after restoration, it did not cure a petition that was invalid when filed. The controlling principle was that maintainability is assessed on the date the action is instituted, so later revival could not resuscitate the proceeding. Authorities dealing with dissolution or striking off were distinguished as inapplicable to voiding for non-payment of taxes, and the petition was rightly rejected.

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Issues: Whether the company petition was maintainable when, on the date of filing, the petitioner corporation stood voided under the law of its incorporation and was later revived.

Analysis: The petitioner's charter had become void before the petition was presented, and under the relevant Delaware provision a voided corporation's powers became inoperative and it ceased to exist for the purposes of suing or being heard. The provision relating to revival could validate prior acts upon restoration, but it did not cure an institution that was invalid at inception. The rule that rights are determined on the date the action is instituted governed the question, and the subsequent revival could not resuscitate a petition that was not maintainable when filed. The authorities relied on by the petitioner concerned dissolution or striking off and did not apply to a case of voiding for non-payment of taxes.

Conclusion: The company petition was not maintainable and was rightly rejected.

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