Continental Bank & Trust Co. of New York v. American Assembling MacHine Co.

Opinion by

Mr. Justice Hughes,

On October 8, 1931, a bill in equity was filed by The Continental Bank & Trust Company of New York, The Bank of Sicily Trust Company of New York, and The Hibernia Trust Company of New York, as creditors of the American Assembling Machine Company, seeking the appointment of a receiver. This resulted in the appointment of Chester Snyder as receiver. The order of appointment authorized the receiver to take possession of the business of the American Assembling Machine Company and to manage and conduct the same, in such manner as will, in his judgment, produce most…