Oleson v. Bank of Tacoma

Citations

• 15 Wash. 148
• 45 P. 734
• 1896 Wash. LEXIS 155

Syllabus

<p>RECEIVERS — APPOINTMENT FOR INSOLVENT CORPORATION — ASSIGNMENT FOR BENEFIT OF CREDITORS — RIGHTS OF ASSIGNEE AS AGAINST RECEIVER.</p> <p>The making of a general assignment of its property for the benefit of creditors by an insolvent corporation can have no effect upon the power of a court, under Code Proc., § 326, to appoint a receiver at the instance of a creditor of the corporation.</p> <p>A deed of assignment by an insolvent corporation can be set aside by the court, upon the subsequent appointment of a receiver at the suit of a creditor of the corporation.</p> <p>A receiver having been appointed for an insolvent corporation, he is entitled to the possession of all of the assets of the corporation, as against an assignee holding under a prior voluntary assignment-executed by the corporation while insolvent.</p>