Peeples v. South Carolina Agricultural Loan Ass'n

The opinion of the Court was delivered by

Mr. Justice Blease.

In the complaint of the plaintiff, he alleged that the action was brought “on his own behalf and on behalf of all other creditors and stockholders of the defendant.” The purpose of the action .was solely to procure the appointment of a receiver for the defendant corporation, chartered under the laws of this State. As grounds upon which to base the application for a receivership, the plaintiff alleged, in brief, that the defendant “is insolvent or is in imminent danger of insolvency”; that suits are pending, and judgments have…