on its behalf. That is the whole theory which is behind a derivative stockholders’ action.”); Kirby v. Schenck, 25 N.Y.S.2d 431, 432-33 (Sp. Term 1941) (allowing corporation to defend action where plaintiff sought to enjoin corporation from carrying out personal service contracts because "interests of the corporation [were] injuriously threatened” by plaintiff’s suit); Godley v. Crandall & Godley Co., 181 A.D. 75, 168 N.Y.S. 251 (N.Y.App.Div. 1917); Swenson v. Thibaut, 39 N.C.App. 77, 250 S.E.2d 279, 294 (N.C.1978); Nat’l Bankers Life Ins. Co. v. Adler, 324 S.W.2d 35, 37 (Tex.Civ.App.1959) ("If the derivative action threatens rather than advances the corporate interests, the corporation may actually defend the action.”); Corey v. Indep. Ice Co., 226 Mass. 391, 115 N.E. 488 (1917) (<HOLDING>); Apfel v. Auditore, 223 A.D. 457, 228 N.Y.S.
holding that the funds in the privatelyheld corporations account belonged to the corporation not to the individuals who owned the corporation and expressly stating that directors officers and shareholders of a corporation do not have standing to claim an ownership interest in corporate property in their individual capacities they must state a claim in the corporate name recognizing that representation of a corporation by its officers in administrative proceedings is allowed holding that claims against corporate officers for mismanagement belong to the corporation holding that claims of corporation vest in corporation holding that corporation was allowed to defend suit challenging corporate reorganization