Smith v. Commercial Credit Corp.

The petitioner was appointed insolvency receiver of Premo Motors, Incorporated, which was engaged in the business of buying and selling automobiles at retail, on January 7th, 1931. Eleven days prior to that appointment, and in contemplation thereof, the defendant Commercial Credit Corporation took fifteen automobiles from the possession of the insolvent company under a claim of ownership and refused to deliver them to the receiver on his demand. Thereupon this petition was filed for an order directing defendants to deliver the automobiles to the receiver. The defendants answered and the…