53 S.C. 364 | S.C. | 1898
The opinion of the Court was delivered by
This appeal is from an order appointing a receiver of the property of the Southern. Land and Lumber Company, made on the application of Wood Bros., defendants, and creditors of said company. The grounds of appeal are: “(1) That the Circuit Judge erred in his conclusion of law to the effect “that under the Code, sec. 265, subdiv. 4, and the law generally upon this subject, the plaintiffs, rather than Wood Bros., and the creditors represented by them, are entitled to the relief asked for — i. e., the appointment of a receiver of the property and assets of said corporation; (2) that the Southern Land and Lumber Company also excepts to said conclusion of law generally, in that upon the facts proved-and decided therein the movants were not entitled to an order for the appoint
2 The showing made did not warrant the appointment of a receiver. While the court of equity, in proper cases, has the power to place a debtor’s property in the hands of a receiver, this power should be exercised with great caution, lest the injury thereby caused be far greater than the injury sought to be averted. The movants in this case were threatened with no loss which rendered a receivership necessary. Having been tendered the amount due them, and refused it, we do not think their clamor for so severe a remedy should be heeded, and we fail to see how in this proceeding Wood Brothers represent anybody but themselves.
The order appointing a receiver in this case is reversed.