MacOn Lumber Company v. Bishop and Collins

MILLER, Circuit Judge.

The appellees, as owners of preferred stock in the appellant corporation, Macon Lumber Company, brought this action against the corporation and its officers asking for the appointment of a receiver to take charge of the property of the corporation, and that the corporation be liquidated. Following appellees’ motion for appointment of a receiver pendente lite and a hearing thereon, the District Judge appointed a receiver with instructions that an audit be made, and that an accounting of the assets and liabilities be taken by the receiver and reported to the Court. The…