Insurance Management, Inc. v. McLeod

The plaintiff insurance agencies sought injunctive and other relief for the alleged unauthorized withdrawal of corporate funds from corporate accounts by their president, McLeod. McLeod answered and counterclaimed, alleging misconduct by the vice-president, Ryan. National Indemnity Company was then allowed to intervene as an insurer to whom monies collected for premiums were owed under a trust agreement. Subsequently, upon application by McLeod, the chancellor entered orders appointing a temporary receiver for the plaintiff agencies, who now take these interlocutory appeals which have been…