Panzer v. National Finance Corp.

The bill of complaint is brought by minority stockholders and bondholders on behalf of all stockholders, bondholders and creditors for the appointment of a receiver for National Finance Corporation of America. The bill charges: (1) that the corporation is insolvent, and (2) that the business of the corporation is being fraudulently conducted and prays the appointment of a receiver under the general equity powers of the court.

Under (1) it is charged that the business of the defendant and its affiliated companies has been, is being and will be conducted at a loss and greatly prejudicial to the…