McInerny v. Guaranteed Equities, Inc.

OPINION

SOSA, Senior Justice.

This action arose when the director of the Financial Institution Division of the Regulation and Licensing Department charged Guaranteed Equities, Inc. (Equities) with illegal and fraudulent activity. The trial court granted the director’s petition to appoint a receiver and held a hearing to determine the distribution to investors of proceeds from the sale of the collateral securing their loans. This Court has recently ruled on a related disposition by the trial court. See McInemy v. Guaranteed Equities, Inc., 105 N.M. 49, 728 P.2d 459 (1986) (McInemy I).

In this…