Martin Oil Co., Inc. v. Clokey

COLEMAN, Justice.

Appellants appeal from an order appointing a receiver for Martin Oil Co., Inc., an Alabama corporation. Title 7, § 758, Code 1940.

The appellants are the corporation, sometimes referred to as the company, and James D. Martin who is a stockholder and president of the corporation. He is herein referred to as Martin.

The appellees are David L. Clokey and Charles H. Fennelle. Both are stockholders and officers of the corporation. On January 23, 1973, they filed in the circuit court, in equity, an instrument entitled: “APPLICATION FOR THE APPOINTMENT OF LIQUIDATING RECEIVER.”

Appellee…