Nugent v. Collins

Mr. PRESIDING JUSTICE GOLDBERG

delivered the opinion of the court:

This litigation involves the capital stock of two Illinois corporations: Midwest Machinery Movers (Midwest) and Mechanical Wallmaster, Inc. (Mechanical). The stock at issue consists of 15 shares of Mechanical and 100 shares of Midwest. It is undisputed certificates reflecting these shares were issued to “John A. Nugent Trust, John A. Nugent, Trustee.” John A. Nugent died on January 11, 1979. Beverly Nugent (plaintiff) is his surviving spouse and executor of his estate.

The litigation here involved was commenced on April 25,1979,…