Court Opinion

ID: 6897959
Source: CourtListenerOpinion
Date Created: 2022-07-23 21:51:54.121843+00
Date Added: 2024-06-11T16:06:04.082134
License: Public Domain

*551On Motion for Rehearing.
Mr. Chief Justice Wolverton
delivered the opinion.
The appellants ask for a rehearing of this cause, and in support of the petition therefor direct special attention to the point made in their brief, to the effect that the order appointing the receiver having directed that he should take into his possession and control all the property of the defendant corporation, “including all franchises of the said defendant company and evidences thereof, as, also, all contracts entered into or owned and possessed by said company,” and having further directed him to pay “all current expenses incident to the administration of his trust, and to the condition and operation of said business of the defendant company, from time to time, as the same arises and accrues,” he was thereby required to pay the particular claim and demand of the appellants ; and it is suggested that perhaps we had overlooked it in the consideration of the cause. The contention did not escape our attention, and is practically, or inferentially at least, covered by the opinion. It was there held that the claim or demand in question was not such a preferred claim as was entitled to payment in preference to the mortgage lien. The terms of the order, when read in their entirety, do not require the payment of any claims which had accrued prior to the appointment of such receiver, but such current expenses only as are incident to the administration of his trust and to the condition and operation of the business. So that we find nothing in the order which requires the receiver to pay any debt or obligation of the company not entitled to preference over the mortgage creditors. For these reasons, the petition for rehearing will be denied.
Rehearing Denied.