Capital Investors Co., Norman B. Frost, Deceased, and Harry Dreisen v. Executors of the Estate of Arthur R. Morrison

This is the fifth appeal in this diversity jurisdiction case.1 Arthur R. Morrison, who was engaged in financial controversy with his estranged wife, was the owner of valuable lands in Rosslyn, Virginia and in Bre-vard County, Florida. He contracted to convey those lands to Capital Investors Company, a shell corporation wholly owned by James T. Benn, for $1,100,000 represented by unsecured notes. Because of Mrs. Morrison’s claims against the Virginia lands, the contract was renegotiated and a new agreement entered into affecting the Virginia lands alone. Notes were issued to Morrison and Mrs.…