Nisbet v. Great Northern Clay Co.

This appeal is from an order denying a petition to vacate an order confirming a receiver’s sale. The original action was brought by Robert Nisbet against the Great Northern Olay Company, a corporation. Insolvency of the corporation was alleged and admitted, and a receiver was appointed. The receiver, by authority of the court, conducted the business of the corporation for some months, with unprofitable results. The first receiver appointed conducted the business for a few weeks, when he was succeeded by J. E. Ballou, who managed the receivership* and affairs of the corporation for some…