In Chatham-Phenix Nat. Bank & Trust Co. v. Hotel Park-Central, 146 Misc. 208 (1931) defendant opposed plaintiff's motion for the appointment of a receiver as unnecessary and detrimental to the best interest of the parties. In its moving papers, plaintiff stated that a reorganization plan between the parties was almost complete. Id. The court noted that the plaintiff's "moving papers fails to disclose that a receivership will or can achieve anything which the reorganization plan cannot accomplish." Id. at 209. Accordingly, the court concluded that equity justified the denial of a receivership because the appointment appeared unnecessary, duplicative of action already taken, and, in fact, could result in "appreciable and irreparable mischief." Id. at 209.