New York Supreme Court June 27, 1935 (In re People)

Frankenthaler, J.

The motion is based upon three principal grounds: (1) That further transaction of the company’s business would be hazardous to its policyholders, its creditors and the general public; (2) that the company is insolvent in the sense that it is unable to meet its obligations as they accrue in the regular course of business, and (3) that it is insolvent for the additional reason