Unemployment Compensation Board of Review v. Bohl

Opinion by

Judge Mencer,

E. Franklin Bohl (appellant) was last employed by Allentown Converting Co. Since 1959, appellant held the office of president of the company; he was also a director of the company and owned approximately 25 percent (27,001 shares) of the stock in the company. His day-to-day duties consisted of managing production of the corporation’s textile processing. The majority stockholder of the corporation was Leland Smith, who at various times owned up to 65 percent of the stock.

Early in 1974, the board of directors decided to liquidate the corporation. This was accomplished,…