Dimond v. Linnecke

*465OPINION

By the Court,

Batjer, J.:

On January 30, 1962, Henry F. Linnecke, one of the principal creditors of Ready-Mix Western, Inc., a Nevada corporation, the successor of Ready-Mix Concrete Co., a Nevada corporation, and its wholly-owned subsidiary, Vista Rock Products, Inc., a Nevada corporation, entered into an assignment and pledge of corporate stock with Francis R. Smith, the sole stockholder of these corporations, whereby Linnecke was granted the right to vote all the corporate stock of the corporations. Smith and the other officers and directors remained in office for a short time…