Neff v. Progress Building Materials Co.

The appointment of receivers of corporate organizations, whether to accomplish a liquidation under the authority of the Corporation Act or to serve in a custodial capacity in pursuance of the inherent equitable jurisdiction of this court, is an important adjudication which is rendered only with supreme caution and upon imposing and persuasive supporting proof. The designation of such receivers is not a remedial measure to which a litigant is entitled as a strict legal right. It emanates in the given case from the exercise of sound judicial discretion.Federal Terra Cotta Co. v. Atlantic Terra…