Stadium Realty Corp. v. DILL

This is an appeal from an interlocutory order appointing a receiver to take charge of and collect the rents and profits of appellant’s real estate pending an action brought by appellees Dill, Fields and Higgins upon a note and to foreclose a second mortgage on said real estate.

Appellant, by its articles of incorporation, was specifically authorized to borrow money and to execute real estate mortgages to secure the same. On November 28, 1949, appellant, hereafter referred to as Stadium Realty, borrowed from the Massachusetts Mutual Life Insurance Company of Massachusetts the sum of $150,000…