Bank of California v. Virtue & Scheck, Inc.

Opinion

McDANIEL, J.

This is an appeal from a judgment entered on a special verdict in an action to set aside a conveyance alleged to have been in fraud of creditors. Judgment was entered for defendants, and plaintiff appealed. We affirm the judgment.

Facts

R. Edmund McMullan (McMullan), a Canadian accountant by profession, planned to produce a motion picture in California, to be entitled “Yockowald” and to star the well-known singer, Tom Jones. McMullan hoped to finance the production by selling shares in the venture to small investors for use as a tax shelter. However, McMullan unexpectedly…