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SELIG v. POWELL

No. 5-6077.

489 S.W.2d 484 (1972)

John S. SELIG, Arkansas Securities Commissioner and Receiver for Brookmire Management Corporation, Appellant, v. Gladys T. POWELL, Guardian of Louise Powell Moonan, Appellee.

Supreme Court of Arkansas.

Supplemental Opinion on Denial of Rehearing January 29, 1973.

Attorney(s) appearing for the Case

Davidson, Plastiras & Horne, by Allan W. Horne, Little Rock, for appellant.

Rose, Barron, Nash, Williamson, Carroll & Clay, by Phillip Carroll and Sam Gibson, Little Rock, for appellee.

HARRIS, Chief Justice.

The Securities Commissioner of the State of Arkansas instituted an action in the Pulaski County Chancery Court on September 16, 1970, alleging that the commissioner had ordered the revocation of the Brookmire Corporation registration (hereafter called BMC or Brookmire) as investment advisor on grounds that such order was in the public interest and that Brookmire was insolvent. The commissioner prayed that Brookmire be enjoined from disposing...

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