This section is from the book "Business Finance", by William Henry Lough. Also available from Amazon: Business Finance, A Practical Study of Financial Management in Private Business Concerns.
An application for a receivership may be addressed to any court, either federal or state, which has jurisdiction over any part of the business of the corporation. As a result it has often happened that two or more courts have each appointed a receiver and these receiverships have conflicted with each other.
It has been not uncommon for the federal and the state courts to come into conflict in this manner. The tendency, however, has been strong toward putting all receivership proceedings that affect interstate corporations into the hands of the federal courts; and these courts almost invariably, as a matter of courtesy to each other, act in harmony. The judge who first appoints a receiver, is usually accorded precedence and other judges appoint the same man as receiver of the property over which they have jurisdiction. Sometimes the incipient conflict is solved by the appointment of an ancillary receiver, who is expected to co-operate strictly in harmony with the receiver first appointed.