Cooleewahee Co. v. Sparks

“A court of equity may appoint a receiver to take possession of, and hold subject to the direction of the court, any assets charged with the payment of debts, where there is manifest danger of loss, or destruction, or material injury to those interested.” Civil Code (1910), § 5479. However, “Creditors without lien can not, as a general rule, enjoin their debtors from disposing of property, nor obtain injunction or other extraordinary relief in equity.” Civil Code (1910), § 5495. Moreover, “Equity will not take cognizance of a plain legal right, where an adequate and complete remedy is…