Indianapolis MacHinery Co. v. Curd

This is an appeal from the appointment without notice of a receiver of the assets of the Indianapolis Machinery Co., Inc. Profit Sharing Trust and the Indianapolis Machinery Co., Inc. Profit Sharing Plan. The Plan and the Trust were established in 1952 by the Indianapolis Machinery Co., Inc. for the benefit of its employees and officers upon retirement. Its assets are now in excess of half a million dollars. The written articles of both the Plan and the Trust provided that the board of directors of the employer company should appoint the original management committee and trustees and any…