FRICK v. CALMIN MORTGAGE CORPORATION LIMITED (1934)

This is an appeal from an order made September 12, 1932, purporting to vacate and annul a previous order, made on August 10, 1931, appointing a receiver to take possession of all the assets, property, claims, and demands of the above-mentioned corporation, and ‘hold the same subject to the further order of this court.’ A supplemental nunc pro tunc order, dated October 19, 1932, is in the record and shows that the basis of the court's action was his finding that the first order of appointment was in excess of the jurisdiction of the court.

The action was in the nature of a general creditors' bill by plaintiffs, a judgment creditor and two stockholders of defendant corporation, who alleged that the financial condition of the corporation was such that it was at least ‘in imminent danger of insolvency’ within the meaning of section 564, subd. 5, of the Code of Civil Procedure.

A résumé of the financial condition of the corporation is found in the complaint but it need not be here set forth as respondents have submitted the cause without filing a reply brief. Moreover, the corporation, through tis president and secretary, duly consented in writing to the appointment of the receiver. We are pointed to no ground upon which the setting aside of the order can be justified and none occurs to us.

The allegations of the complaint seem to bring the cause within the holding of Boyle v. Superior Court, 176 Cal. 671, 674, 170 P. 1140, L. R. A. 1918D, 226. See, also, 6a Cal. Jur., § 907, pp. 1525, 1526.

The order is reversed.

PRESTON, Justice.

We concur: WASTE, C. J.; SEAWELL, J.; SHENK, J.; CURTIS, J.; LANGDON, J.