Cassells Mills v. First National Bank
Supreme Court of Alabama
Appeal from Gadsden City Court. Heard before Hon. John H. Disque. Hill by the First National Bank of Gadsden and others against Cassels’ Mills, seeking the appointment of a receiver therefor. From an order appointing the receiver respondent appeals. An appeal lies from an order appointing a receiver.—§ 2840, Code 1907. Creditors asking for a receiver must be either judgment or lien creditors.—Ft. Payne Go. v. Ft.
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Appeal from Gadsden City Court. Heard before Hon. John H. Disque. Hill by the First National Bank of Gadsden and others against Cassels’ Mills, seeking the appointment of a receiver therefor. From an order appointing the receiver respondent appeals. An appeal lies from an order appointing a receiver.—§ 2840, Code 1907. Creditors asking for a receiver must be either judgment or lien creditors.—Ft. Payne Go. v. Ft. Payne, 96 Ala. 472; 34 Cyc. 34-5; 5 Thomp. on Corp. 5400, et seq.; High on Receivers, §§ 1 and 406. The president of a corporation has no ex officio authority to consent to the…
1Opinion of the CourtSayre, J.
Complainants (appellees) in this cause, at whose instance receivers have been appointed to take charge of defendant’s (appellant’s) property, are sim*327pie contract creditors of the defendant corporation without a lien. There is no averment of defendant’s insolvency, nor is there an unequivocal statement of facts from which a reasonable inference of insolvency may be draAvn. Solvency does not depend upon credit. Nor can a debtor, who has sufficient property accessible to legal process to satisfy all legal demands, be said to be insolvent, although he may not have money in hand to meet his…
2Cases cited12 opinions
- Hollins v. Brierfield Coal & Iron Co.Supreme Court of the United States · 1893
- O'Bear Jewelry Co. v. Volfer & Co.Supreme Court of Alabama · 1894
- McDuffie v. Lynchburg Shoe Co.Supreme Court of Alabama · 1912
- American Freehold Land Mortgage Co. of London v. TurnerSupreme Court of Alabama · 1891
- Smith v. Collins & GriffithSupreme Court of Alabama · 1891
7 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Whiteman v. TaberSupreme Court of Alabama · 1919
- Grand Lodge, K. P. v. ShorterSupreme Court of Alabama · 1929
- State v. WoodroofSupreme Court of Alabama · 1950
- View-All, Inc. v. United Parcel ServiceSupreme Court of Alabama · 1983
- Alabama, T. & N. Ry. v. TolmanSupreme Court of Alabama · 1917
3 more not listed; retrieve them via the Exa API.