Posner v. Southern Exhaust & Blow Pipe Co.

Citations

• 109 La. 658
• 33 So. 641
• 1902 La. LEXIS 163

Syllabus

<p>RECEIVER — APPOINTMENT—APPEAL—DISMISSAL — CORPORATIONS.</p> <p>1. By Act No. 159 of 1898 a party aggrieved by a judgment of court either granting or rejecting an application for the appointment of a receiver may appeal therefrom, provided the appeal 'be taken and perfected within 10 days from the entry of the order. The statute declares that such, appeal is made returnable in 10 days from the date of such order, and shall he tried by- preference in the appellate court. When such appeal has been taken and perfected, it will be sufficient for the appellant to file the record within three judicial days at the first session of the supreme court after the return day, should that court he not in session on the day fixed by the statute for the return day. Section 4, Act No. 45 of 18T0, Bx. Sess.; State v. Hampton, 33 La. Ann. 1257; State y. Butler, 35 La. Ann. 392; State v. Corcoran, 38 La. Ann. 950; State v. Joseph, 3 South. 405, 40 La. Ann. 5.</p> <p>2. When such would, in a particular case, have been the situation of the appeal, it will not be dismissed because in the order of appeal the district court has designated as the return day for the appeal the first day of the next session of the Supreme Court, instead of “ten days from the date of the order.” Appellee would not be misled nor injured by that fact.</p> <p>On the Merits.</p> <p>3. In reference to the application for the appointment of a receiver:</p> <p>A receiver may be appointed at the instance of a majority of the stockholders.</p> <p>Plaintiff does not represent a majority of the stockholders.</p> <p>A receiver may be appointed when the officers and directors are grossly mismanaging the affairs of the company.</p> <p>To the date suit was filed the officers and directors were not grossly mismanaging the affairs of the corporation.</p> <p>The firm is a successful firm. The charge of misapplication of funds is not sustained, an investment having been made in bonds, in which plaintiff acquiesced.</p> <p>4. In