Securities and Exchange Commission v. Arkansas Loan and Thrift Corporation
SECURITIES AND EXCHANGE COMMISSION, Appellee, v. ARKANSAS LOAN AND THRIFT CORPORATION Et Al., Appellants
Opinion
PER CURIAM.
This is an appeal from a judgment and order authorizing the equity receiver of Arkansas Loan and Thrift Corporation (A. L. & T.), United Loan and Investment Company and Savings Guaranty Corporation (Savings) to settle a claim against Fireman’s Fund Insurance Company, the fidelity bond carrier of A. L. & T. and Savings. The facts involved in this dispute are reported at 297 F.Supp. 73 and need not be discussed here.
1
The appellants claim that the trial court incorrectly interpreted the fidelity bond involved in this case, and therefore erred in approving the settlement.
*1172 Any action by a trial court in supervising an equity receiver is committed to his sound discretion and will not be disturbed unless there is a clear showing of abuse. In re Albert Harris, Inc., 6 Cir., 313 F.2d 447, 449 ; In re California Associated Products Co., 9 Cir., 183 F.2d 946, 949 ; MacDonald v. Aetna Indemnity Co., 88 Conn. 571 , 92 A. 154, 157 ; Gordon v. Hartford Sterling Co., 319 Pa. 174 , 179 A. 234, 237-238 . Under this rule, we need not pass on the merits of the trial court’s interpretation of the bond beyond a finding that there has been no abuse of discretion. We have reviewed the record in this case and find. no abuse of discretion in the approval of the receiver’s settlement.
The judgment of the trial court approving the settlement is affirmed.
1
. For further discussion of this receivership, see 294 F.Supp. 1233 , aff’d, 422 F.2d 475 .
How later courts describe this case
Explanatory parentheticals written by citing courts — 1 in all; the most informative distinct ones are shown.
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(“Any action by a trial court in supervising an equity receiver is committed to his sound discretion and will not be disturbed unless there is a clear showing of abuse.”)
Cited by 18 cases
View all citing references →- U.S. Courts of Appeals12
- Federal District Courts2
- State Highest Courts2
- State Appellate Courts1
- State Trial Courts1
Relies on it most ⓘ
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- Fed. Sec. L. Rep. P 96,549, 18 Ucc rep.serv.2d 588 Securities and Exchange Commission v. Charles Phillip Elliott, Charles O. Farrar, Receiver- Kenneth J. Davis, Linda J. Davis, Leroy H. Moeller, as Personal Representative of the Estates of Adolph Hagstrom, Squire J. Kingston, Elizabeth Woods, Caroline Estelle, Lynnis H. McClain Ted Masco, Anita K. Hailey, Earl Setterblade, Francis Setterblade, Lloyd Schutzman, Shirley Schutzman, Albert C. Heil, Melvin Burkhardt, Rosa Ella Burkhardt, Howard Dore, Ruth Dore, Gerald J. Braun, Christie Braun, Monica Brooke Braun, C. Albert Ducharme Trust and Catherine F. Ducharme Trust, Seaton F. McDaniel Josephine McDaniel Trudy and Sidney Kleiner
- Lem C. Bryan, Receiver v. Ernest A
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- Western Bank v. Fluid Assets Development Corp.
Most recent
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Citing references are not a citator: they show that a later opinion cites this case, not whether it followed, distinguished, or overruled it. Check negative history before relying on this case.