Mountain City Motor Company's Receiver v. Mountain City Motor Co.

Opinion of the Court by

Judge Rees

Affirming.

Appellant Ray O. Sbelmn was appointed receiver for tlie Mountain City Motor Company, which liad be come insolvent, upon the petition of the appellee W. "W. Driffield, who was.the president of the company. Driffield was also a creditor.

The insolvent corporation was indebted to the appellee, First State Bank of Harlan, Ky., in the sum of $12,000, which was secured by a lien oh the building in which its business was conducted.' The 'receiver was appointed on December 23, 1925,' and on the same day an order was entered directing the receiver to 'Continue…