Kenny v. Allerton Corp.

The Chancellor.

Insolvency under the statute may consist of two types. 'It exists where the liabilities exceed the assets, or where there is an inability to meet current maturing obligations in the ordinary course of business. The bill relies on insolvency in the latter sense. Insolvency in the sense of a deficiency of assets below liabilities, is not only not alleged, but appears to be admitted not to exist in point of fact.

Even when insolvency is shown, the appointment of a receiver will not follow as a matter of course. Whether the appoint*221ment should be made is always a question that rests…