White v. Davis
Supreme Court of Georgia
Application of receiver in bankruptcy. Before Judge Charlton. Chatham superior court. The directors- of the Electric Supply Company passed the following resolution: “Besolved, that the present financial condition of this company is found to be such as that, although solvent, it is impossible to successfully continue its business; further, that it is deemed essential to the preservation of the assets of the company and to the safety and security of its creditors and…
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Application of receiver in bankruptcy. Before Judge Charlton. Chatham superior court. The directors- of the Electric Supply Company passed the following resolution: “Besolved, that the present financial condition of this company is found to be such as that, although solvent, it is impossible to successfully continue its business; further, that it is deemed essential to the preservation of the assets of the company and to the safety and security of its creditors and stockholders that the company surrender its franchises, dissolve its corporation, and have its assets administered by the court,…
1Opinion of the CourtLumpkin, J.
(After stating the foregoing facts.)
The judge of the superior court denied the petition of the receiver appointed by the court of bankruptcy that the receiver appointed by the State court be directed to deliver the assets in his hands to the petitioner. Was this error? This was not an equitable proceeding, with parties plaintiff and defendant, and with a prayer for the appointment of a receiver. It did not rest on the general powers of a court of equity as such, or of a court having equitable jurisdiction. The presiding judge based his action on the theory-that the company could surrender its…
2Cases cited23 opinions
- Boyd's Lessee v. GravesSupreme Court of the United States · 1819
- In Re Watts and SachsSupreme Court of the United States · 1903
- Carling v. Seymour Lumber Co.Court of Appeals for the Fifth Circuit · 1902
- In re C. Moench & Sons Co.Court of Appeals for the Second Circuit · 1904
- Merchants & Planters Line v. WaganerSupreme Court of Alabama · 1882
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3Cited by9 opinions
- Young v. HamiltonSupreme Court of Georgia · 1910
- Enterprise Distributing Corp. v. ZalkinSupreme Court of Georgia · 1922
- Barnett v. D. O. Martin Co.Supreme Court of Georgia · 1940
- Mobley v. Hagedorn Construction Co.Supreme Court of Georgia · 1929
- Stone v. EdwardsCourt of Appeals of Georgia · 1924
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