Case Name: Slade Bros., Inc., a corporation, complainant, v. Eagle's Meat and Poultry Market, a corporation, defendant
Court: New Jersey Court of Chancery
Jurisdiction: New Jersey
Decision Date: 1939-04-18
Citations: 125 N.J. Eq. 336
Docket Number: 
Parties: Slade Bros., Inc., a corporation, complainant, v. Eagle’s Meat and Poultry Market, a corporation, defendant.
Judges: 
Reporter: New Jersey Equity Reports
Volume: 125
Pages: 336–337

Head Matter:
Slade Bros., Inc., a corporation, complainant, v. Eagle’s Meat and Poultry Market, a corporation, defendant.
[Decided April 18th, 1939.]
Mr. Morris M. Ravin, for the complainant.
Mr. David Gaslelbaum, for the defendant.

Opinion:
Stein, Y. C.
Complainant alleges a debt due him of $266.24. The bill is before me with notice of an application for the appointment of a receiver and answer on the part of the defendant corporation admitting insolvency.
The bill alleges that the assets of the corporation (consisting of fixtures in a meat market) are of an approximate value of $1,000, and that there is due the landlord the sum of $300 for rent for which he threatens to distrain and taxes due the city of Newark in the sum of $120, without interest.
The purpose of the statute R. 8. (1937), which is the preservation of the interest of the stockholders and creditors would not be accomplished by the appointment of a receiver herein. Such appointment would only add an additional burden upon the estate and tend to eat up the available assets. Glaser v. Achtel-Stetter's Restaurant, Inc., 106 N. J. Eq. 150; 149 Atl. Rep. 44.
Exercising the discretion residing in the court, the appointment of a receiver is denied.