Gould v. Jacobs

This is an action brought by the trustees in bankruptcy of Credit Industrial Corporation (CIC) against two of its officers and directors, Jacobs and Gnstin, and two partnerships of which they were the sole partners. The partnerships having subsequently gone into bankruptcy, the action as against those entities were severed at the trial.

The claim is based upon admitted withdrawals from CIC to said partnerships totaling $1,458,591.69 for the period from October 1, 1962 to April 9, 1963. Defendants’ attorneys have not disputed their liability for said amount and offered plaintiffs a money…