Department Store Co. v. Gauss-Langenberg Hat Co.
New Mexico Supreme Court
Error to District Court, Colfax Comity. Tlie courts and text writers universally hold that the-•appointment of a receiver is a drastic remedy to be exer■cised only as a last resort. Eawnsley v. Ins.
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Error to District Court, Colfax Comity. Tlie courts and text writers universally hold that the-•appointment of a receiver is a drastic remedy to be exer■cised only as a last resort. Eawnsley v. Ins. Co., 9 N. JEq. 95; Edison v. Phonograph Co., 29 At]. 195; 34 Cye. 21, 23, 76, 79, 80, 90; High on Beceivers, 289-292; Thompson on Corporations, 6346. A receiver should be appointed where a corporation has become insolvent and is not about to resume its business in a short time thereafter with safety to the public and advantage to the stockholders. Chap. 79, sec. 72, laws 1905; Cook v. East T.…
1Opinion of the Court
OPINION BY THE COURT.
PARKER, J.
This Avas an action brought in the District Court for Colfax County, under the proAÚsions of section 72 and 73 of chapter 79 of the LaAA^s of 1905, relating to insolvent corporations. An injunction was granted and a receiver appointed, ex parte; thereafter the plaintiff in error filed an answer, whereupon defendant in error filed a motion to strike out portion of the ansAver and a motion for judgment on the pleadings. These two motions came on for hearing and Avere argued, submitted and sustained by the Court. A decree was then entered continuing' the injunction…
2Cases cited4 opinions
- Pierce v. Old Dominion Copper Mining & Smelting Co.New Jersey Court of Chancery · 1904
- Empire State Trust Co. v. Trustees of William F. Fisher & Co.Supreme Court of New Jersey · 1905
- Catlin v. Vichachi Mining Co.New Jersey Court of Chancery · 1907
- McMullin v. McArthur Electric Manufacturing Co.New Jersey Court of Chancery · 1907
3Cited by6 opinions
- Mansfield v. Reserve Oil Co.New Mexico Supreme Court · 1934
- Mirabal v. Albuquerque Wool Scouring MillsNew Mexico Supreme Court · 1917
- Jones v. PageNew Mexico Supreme Court · 1920
- Micarley Mining Co. v. CarpenterCourt of Appeals of Texas · 1929
- Central Electric Co. v. Socorro Electric Co.Court of Appeals for the Eighth Circuit · 1913
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