In re the Receivers of the Globe Insurance
New York Court of Chancery
This was a petition of the receivers of the Globe Insurance Company, appointed under the act of the 18th of January, 1836, for the more convenient adjustment of the affairs of certain insurance companies in the city of New-York, rendered insolvent by the late fire in that city, for the order and direction of the court relative to the discharge of their duties. All the facts necessary to a correct understanding of the decision are fully stated in the opinion of the court.
1Opinion of the Court
The Chancellor.
Most of the questions presented for the decision and direction of the court, are those in which the creditors of the corporation are interested; and no direction should be given by the court in relation thereto, without giving those creditors a chance to be heard. Although these receivers are not appointed by the court of chancery, the legislature intended that they should be subject to the control of the court, in the same manner as receivers of insolvent corporations appointed by the court of chancery under the provisions of the 41st section of the article of the revised…
2Cited by5 opinions
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- Same v. SameThe Superior Court of New York City · 1852