What is the difference between a liquidation proceeding and a receivership proceeding?
California, United States of America
The following excerpt is from McConnell v. All-Coverage Ins. Exchange Auto. and Fire, 229 Cal.App.2d 735, 40 Cal.Rptr. 587 (Cal. App. 1964):
'Appellants also argue in effect that because the said proceeding is an exercise of the police power of the state the liquidation proceeding therefore differs radically from an ordinary receivership proceeding. Police power can never be used as an excuse for unreasonable, arbitrary action or improper discrimination. See Carpenter v.
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