Dunbar v. Osbun

DESMOND, J., pro tem. Appellants, unsuccessful as plaintiffs in an action upon a surety company bond, claim errors by the court in ruling upon points of law and in entering judgment upon findings unsupported by competent evidence. The case at bar was filed in 1934. To consider intelligently the appeal herein, we must refer to another action brought two years previously. On January 23, 1932, Messrs. Osbun, Cox and Brenneman, unit-holders in a trust known as Bell View Oil Syndicate, had filed a suit against the trustees of that organization, charging conspiracy and various derelictions against them, seeking injunctions and praying for the appointment of a receiver to take over and administer all the assets and business of the syndicate. The application for a receiver was acted upon ex parte, the plaintiffs in that ease posting a bond of $10,000 required by the court, and the receiver qualifying on the same day suit was filed. An inquiry upon a show cause order, as to whether the order appointing the receiver should continue in force until the termination of the action, was decided on February 11, 1932, when the court discharged the receiver and required him to account, at the same time placing the trustees under mandatory instructions in regard to methods of handling the syndicate business, and impounding certain moneys and securities which the trustees had placed in a safe deposit box. On March 25, 1932, the receiver’s account, containing various items of expense incurred by him, was approved, with the exception of a single item, by the trial court at a hearing attended by counsel for all parties. An appeal from this order of approval was dismissed by the Supreme Court under date of May 10, 1932, following a dismissal of the action itself in the superior court on May 2, 1932, upon a stipulation entered into by counsel reading as follows:

“In the Superior Court of the State of California in and for the County of Los Angeles. A. Osbun, R. L. Cox and [686]R. S. Brenneman, Plaintiffs, v. Bell View Syndicate, an Unincorporated association, et al., Defendants. No. 334,121. Stipulation. It is Hereby Stipulated and Agreed that the above entitled action shall be dismissed, each of the parties thereto to pay its and their own costs and disbursements herein, and the clerk of said court is hereby authorized and directed to enter such dismissal.

“It is Hereby Further Stipulated and Agreed that said Superior Court may forthwith make an order releasing all funds and property heretofore impounded in said action.