Cohen v. Financial Acceptance Co.

MR. PRESIDING JUSTICE BURMAN

delivered the opinion of the. court.

This is an interlocutory appeal from an order of the Chancery Division of the Circuit Court appointing a temporary receiver for the defendant corporation. The defendant contends that it was error for the trial court to appoint the temporary receiver without a hearing where the complaint and petition for appointment of the temporary receiver contained the legal conclusion that “the corporation is unable to pay its debts and obligations as they mature in the regular course of business,” but did not set forth facts on which that…