Central Trust & Savings Co. v. Chester County Electric Co.
Court of Chancery of Delaware
Petition for Payment of Allowances to Receiver and his Counsel out of Funds Paid into Court in Foreclosure Proceedings. The matter before the Court is as to allowances to the receiver of the Chester County Electric Company for compensation for himself and his counsel.
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Petition for Payment of Allowances to Receiver and his Counsel out of Funds Paid into Court in Foreclosure Proceedings. The matter before the Court is as to allowances to the receiver of the Chester County Electric Company for compensation for himself and his counsel. On March 26th, 1909, by a bill filed in Kent County by Elisha W. Meloney, a holder of one of the bonds of the company, and a stockholder thereof, William M. Hope was appointed receiver pendente lite of the company, a Delaware corporation, on the ground of its insolvency. The company owned real estate, two plants for generating…
1Opinion of the Court
The Chancellor :
The insolvent corporation was a public service corporation and a continuance of its operation was essential to a proper protection of the property of the company and the maintenance of its franchises. The receivers took charge and operated it, improved its physical condition, and so conserved it until the sale-under the foreclosure proceedings. Considering the matter as though the plant and property of the company had been in Delaware, operated for about one year by a Delaware receiver, conserved as a going concern by him, and its physical condition somewhat improved; and…
2Cases cited16 opinions
- Hanna v. State Trust Co.Court of Appeals for the Eighth Circuit · 1895
- Highley v. DeaneIllinois Supreme Court · 1897
- Knickerbocker v. McKindley Coal & Mining Co.Illinois Supreme Court · 1898
- Cake v. MohunSupreme Court of the United States · 1896
- Ephraim v. Pacific BankCalifornia Supreme Court · 1900
11 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- First Nat. Bank of Chicago v. Prima Co.Court of Appeals for the Seventh Circuit · 1937
- Ferris v. Chic-Mint Gum Co.Court of Chancery of Delaware · 1924
- Bank of California v. Clear Lake Lumber Co.Washington Supreme Court · 1928
- Glaser v. Achtel-Stetter's Restaurant, Inc.Supreme Court of New Jersey · 1930
- Bassett v. Merchants Trust Co.Supreme Court of Connecticut · 1932
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