Legal Opinion

Crumpton v. Stephens (In Re Northlake Foods, Inc.)

Court of Appeals for the Eleventh Circuit

Decided May 6, 2013No. 12-15603PublishedCited by 38 opinions

Non-Argument Calendar.

1Per curiam

I

Northlake Foods, Inc. (“North-lake”), is a Georgia corporation that owned approximately 150 Waffle House restaurants in Georgia, Florida, and Virginia. On March 1, 1991, Richard Stephens, a shareholder of Northlake, executed a Shareholders Agreement. Section 5.01 of the agreement contained the following provision:

If the Corporation’s income ever becomes taxable to the Shareholders, rather than to the Corporation, the Corporation shall pay a dividend at least annually in an amount and at a time sufficient for each Shareholder to pay out of the dividend all income tax, state and federal,…

2Cases cited5 opinions

  1. Griffin Industries, Inc. v. IrvinCourt of Appeals for the Eleventh Circuit · 2007
  2. Hawthorne v. Mac Adjustment, Inc.Court of Appeals for the Eleventh Circuit · 1998
  3. In Re Jlj Inc., D/B/A All American Trade Day, Debtor. Karen B. Rush v. Jlj Inc., D/B/A All American Trade Day, Rush Building Company, Inc.Court of Appeals for the Eleventh Circuit · 1993
  4. Advanced Telecommunication Network, Inc. v. Allen (In Re Advanced Telecommunication Network, Inc.)Court of Appeals for the Eleventh Circuit · 2007
  5. Ad-Vantage Telephone Directory Consultants, Inc., Cross v. Gte Directories Corporation, Cross-AppelleeCourt of Appeals for the Eleventh Circuit · 1987

3Cited by38 opinions

  1. Estate of Jackson v. Schron (In Re Fundamental Long Term Care, Inc.)Court of Appeals for the Eleventh Circuit · 2017
  2. SE Property Holdings, LLC v. Jerry Wayne GaddyCourt of Appeals for the Eleventh Circuit · 2020
  3. Zazalli v. Swenson (In re DBSI, Inc.)District Court, D. Idaho · 2016
  4. William J. Kardash, Sr. v. Commissioner of IRSCourt of Appeals for the Eleventh Circuit · 2017
  5. Parm v. National Bank of California, N.A.District Court, N.D. Georgia · 2017

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