Petition of Kittanning Insurance

Citations

• 146 Pa. 102
• 23 A. 336
• 1892 Pa. LEXIS 1201

Syllabus

<p>(а) An insurance company, by its president, presented a petition to the Common Pleas of Armstrong county, averring that it was without available assets sufficient for carrying on its business and the payment of immediate demands against it; praying for the appointment of a receiver to take charge of its assets, to collect debts, etc.</p> <p>(б) Upon said petition, an order was made dissolving the corporation and appointing a receiver. On the day of this order, upon proceedings by the attorney general, under par. 8, § 5, act of April 4, 1878, P. L. 28, the Common Pleas of Dauphin county made an order on the company to show cause why its business should not be closed: ></p> <p>1. So much of the order of the Common Pleas of Armstrong as dissolved the corporation, was made improvidently. That court had power, however, to appoint the receiver, and the latter could retain custody of the company’s assets until superseded by a receiver appointed on the formal dissolution of the corporation by the Common Pleas of Dauphin.</p>