Albert & Kernahan, Inc. v. Franklin Arms, Inc.

The opinion of the court was delivered by

Gummere, Chief-Justice.

The bill in this case was filed by a creditor of the Franklin Arms, Incorporated, for the purpose of obtaining a decree adjudging it to be insolvent; for the appointment of a receiver; and for an order directing the receiver to sell the property and assets of the bankrupt corporation and distribute the proceeds of such sale among its creditors. No answer being filed to the bill of complaint, an ex parte hearing was had, which resulted in an adjudication, of insolvency and the appointment of a receiver. An order was subsequently…