Tibbets v. G. Cohn & Co.

Citations

• 116 Cal. 365
• 48 P. 372
• 1897 Cal. LEXIS 553

Syllabus

<p>Insolvency—Receiver—Power to Sue—Improper Action to Vacate Transper. —A receiver of the assets of an insolvent debtor is only authorized to take possession of property belonging to the insolvent debtor, and to care for them until the appointment of an assignee, and may maintain all actions necessary to preserve the property which conies to his possession; but he is not authorized to bring an action to vacate a transfer made by the insolvent debtor prior to the commencement of the insolvency proceeding, and such action can only be brought by the assignee, and the right of action does not exist until after his appointment.</p>