Republic Bond & Mortgage Co. v. Durrett

In September, 1935, the Tri-State Savings & Loan Association, hereinafter referred to as the association, and its subsidiary, Fidelity Finance Company, hereinafter referred to as the company, were placed in liquidation in the Pulaski chancery court, and Charles B. Thweatt was appointed receiver for both corporations. By order of court the assets of the company were transferred to the receiver of the association to be liquidated-as the assets of one corporation. In the latter part of October, 1935, the receiver, under the order of the chancery court, sold the assets of both corporations to…