Detroit Trust Co. v. Detroit City Service Co.

On January 16, 1931, certain general creditors of the Detroit City Service Company filed a bill of complaint to secure the appointment of a receiver for the corporation. The Union Guardian Trust Company and H. S. Oderman were duly appointed. In the order appointing them they were—

“authorized to continue, manage, operate and conduct the business of the defendant until the further order of this court, with full authority to carry on, manage, operate and conduct said business, to buy and sell merchandise, supplies or stock in trade, for cash or on credit, and as may be deemed advisable by said…