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WOMACK v. STATE

No. S98A0810.

507 S.E.2d 425 (1998)

270 Ga. 56

WOMACK v. STATE of Georgia et al.

Supreme Court of Georgia.

Reconsideration Denied October 26, 1998.

Attorney(s) appearing for the Case

C. Nelson Jarnagin, Brunswick, for Virgil Womack.

Hon. Thurbert E. Baker, Atty. Gen., John B. Ballard, Jr., Shereen M. Walls, William Wright Banks, Jr., John C. Jones, Ralph Williams Ellis, Asst. Attys. Gen., Department of Law, Lewis A. Massey, Secretary of State, Duanne Fry, Atlanta, Thomas L. Kirbo, III, Kirbo & McCalley, Moultrie, John Flanders Kennedy, Hall, Bloch, Garland & Meyer, Macon, Andrew J. Ekonomou, Boyce, Ekonomou & Atkinson, Lilburn, for State of Georgia.

David S. Underhill, Berkley, MI, for other interested parties.

THOMPSON, Justice.

Plaintiff, the Commissioner of Securities of the State of Georgia, brought suit against The GFI Financial, Inc. ("GFI") and Virgil Womack, GFI's president, seeking an injunction to prohibit defendants from selling unregistered securities of GFI. In addition, plaintiff sought the appointment of a receiver for the assets and affairs of GFI. It was alleged that GFI and Womack were engaged in selling "promissory notes"; that the notes constituted unregistered...

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