Rhame v. Bank of Brunson
Rhame v. Bank of Brunson
Opinion of the Court
The opinion of the Court was delivered by
It appears that upon proper proceedings instituted by B. J. Rhame, Esq., State Bank Examiner, Walter E. Richardson and W. M. Robertson were appointed receivers of the Bank of Brunson, and duly qualified as such receivers, and entered upon the duties of the office. That the respondents, as creditors of the bank, applied for and obtained from his Honor, Judge Rice, a rule requiring them to show cause why they should not be removed as receivers of said bank, and after return was made by them to this rule and a full hearing by Judge Rice, Judge Rice, on May 29, 1913, passed an order removing W. M. Robertson as receiver of said bank, and on May 30, 1913, made an order appointing C. F. Riser, of Olar, S. C., one of the receivers of said bank. From these orders W. M. Robertson appeals. For a proper understanding of the case the order of his Honor of May 29, 1913, removing Robertson, should be set out in the report of the case.
Exception 1 is overruled as the case shows as amended by order of Judge Rice that the attorney for bank examiner was served with the petition and rule issued therein by his Honor.
Exceptions 2, 3, 4, 5, 6 and 7 allege error on the part of his Honor in his finding of facts, and by reason of
Exceptions 8 and 9 complain of error on the part of his Honor in appointing Riser as a receiver of the Bank of Brunson. These exceptions are overruled as the Court of Common Please has 'a right to remove a receiver duly appointed for sufficient cause shown, and has a right to administer the funds and estate that it has taken charge of to the best interests of the parties interested, and having rightly removed Robertson, the. Court, in the exercise of its discretion, could appoint some suitable person in his place.
Exception 10 is overruled for the reason that the evidence conclusively shows that petitioners are creditors of the Bank of Brunson.
Exceptions 11 and 12 are overruled for the reason we find no erroneous exercise of discretion on the part of his Honor in doing what he had ample power and authority to do by law.
Judgment affirmed.
Reference
- Full Case Name
- EX PARTE FAUST IN RE RHAME v. BANK OF BRUNSON
- Status
- Published
- Syllabus
- Receiver of Bastic. — -When the bank examiner applies to the Court for the appointment of a receiver for an unsound bank, the Court may appoint the bank examiner, the nominee of that officer, one of the Court’s officers or any other person the Court may select and may remove such receiver for neglect of duty, incompetency, dissipation, etc., and there was no abuse of discretion in this case in removing a receiver for dissipation.