Maguire v. Mortgage Co. of America
Court of Appeals for the Second Circuit
Appeal from the District Court of the United States for the Southern District of New York; Julius M. Mayer, Judge. Suit in equity by William M. Maguire against the Mortgage Company of America and another. From an order denying a motion to vacate an order appointing a receiver, Louis G. Hart appeals.
1Opinion of the Court
NOYES, Circuit Judge.
The power of courts of chancery to appoint receivers of corporations is examined at length in the recent opinion of this court in the Express Company’s Appeal (Pennsylvania Steel Co. v. New York City R. Co. [C. C. A.] 198 Fed. 736). It is there shown that the general rule is that such-courts have no inherent power to appoint such receivers but that an exception has grown up in the case of creditors’ suits against insolvent corporations. But it is also pointed out that there is no departure from the rule that, in the absence of statutory authority, a court of equity has no…
2Cases cited5 opinions
- Republican Mountain Silver Mines, Ltd. v. BrownCourt of Appeals for the Eighth Circuit · 1893
- Hutchinson v. American Palace-Car Co.U.S. Circuit Court for the District of Maine · 1900
- Sidway v. Missouri Land & Live-Stock Co.U.S. Circuit Court for the District of Western Missouri · 1900
- Haydock v. Fisheries Co.U.S. Circuit Court for the District of Maine · 1907
- Parks v. United States Bankers' Corp.U.S. Circuit Court for the District of Southern New York · 1905
3Cited by21 opinions
- Burnrite Coal Briquette Co. v. RiggsSupreme Court of the United States · 1927
- Ward v. FoulkrodCourt of Appeals for the Third Circuit · 1920
- Brictson Mfg. Co. v. CloseCourt of Appeals for the Eighth Circuit · 1922
- Low v. R. P. K. Pressed Metal Co.Supreme Court of Connecticut · 1916
- Williamson v. Missouri-Kansas Pipe Line Co.Court of Appeals for the Seventh Circuit · 1932
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