In Re Newbrough

April 24,1930, on petition of a majority of the board of directors, filed March 7th, under 3 Comp. Laws 1929, § 15310 et seq., the New Way Motor Company, a corporation'engaged in the manufacture of small gasoline engines at Lansing, was decreed dissolved and a permanent receiver appointed. Certificate of dissolution was filed with the secretary of State May 9th.

October 3d, on petition of the receiver, the court gave him leave to sell the assets at private or public sale, at his discretion, subject to confirmation by the court. November 25th he reported a bid of $75,000 cash and assumption of…