Shachat v. Standard Auto Supply Co.

To a bill of complaint filed by a stockholder on September 17th, 1929, the Standard Auto Supply Company, a corporation, filed an answer admitting the allegations contained therein and consented to the appointment of a receiver. The defendant corporation was declared insolvent and enjoined from exercising its franchises. C. Wallace Vail was appointed receiver under the statute. Stockholders and creditors were ordered to show cause on September 24th, 1929, why the receiver should not be continued. Upon the argument of the order to show cause, due proof having been made of its service upon…