Bank of Belton v. Bogar Farms, Inc.

LISA WHITE HARDWICK, Judge.

This appeal arises from a judgment allowing the Bank of Belton (Bank) to pierce the corporate veil of J & M Development of Cass County, Inc. (J & M), based on a determination that J & M was the alter ego of the Bank’s insolvent debtor, Bogar Farms, Inc. (Bogar Farms). We reverse the judgment because the evidence was insufficient to prove that asset transfers between J & M and Bogar Farms was the proximate cause of any financial injury to the Bank.

Factual and Procedural History

The Bank obtained a judgment for contract damages of $179,821.18 1 against Bo-gar Farms and…