Smiser v. Petroleum Refining Company

WALTER, Justice.

Petroleum Refining Company and Fidelity Casualty Company of New York filed suit against Jerome Smiser and others. They alleged the defendants were officers and directors of the Petroleum Products Company before its assets were sold and the corporation dissolved or, in the alternative, that defendants benefited from the transaction of which the plaintiffs complain. The plaintiffs further alleged that just prior to dissolution of the Petroleum Products Company, its assets, excepting accounts receivable, were sold to Petroleum Refining Company; that thereafter an agent of the…