Reichert v. Reichert

BODLEY, J.,

Plaintiffs, John A. Reichert and Andrew Petrucci, and defendant, Harry D. Reichert, Jr., each own one third of the outstanding common stock of defendant corporations, Newtown Greenhouses, Inc., and Haj, Inc. For some time they operated a florist business through the corporate structure of Newtown Greenhouses, Inc., upon land owned by defendant Haj, Inc. and subject to a first mortgage lien held by Newtown Savings & Loan Association. The business venture proved to be unsuccessful and the parties ceased operation in the fall of 1968.

This equity action was filed on March 6, 1969,…