Carlson v. Leonardo Truck Lines, Inc.
Court of Appeals of Washington
1Opinion of the Court
Willis, J.*
In late 1970, the defendant Leonardo Truck Lines, Inc. (hereafter “L.T.L.”), a trucking concern possessing both interstate and intrastate permits, was in dire financial straits, having a total indebtedness of approximately $250,000 and being pressed for payment by a number of its creditors. Its stock was owned principally by John Leonardo and D. A. Leonardo, with Ernie Marang as *796a minority stockholder. It had not been able to make expenses in the ordinary course of business for at least 3 years, and its owners had been attempting its sale for about 2 years.
On December 19, 1970, D.…
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