Tenny v. the Hilton Corp.

Thomas, J. —

The story unfolded before the chancellor by witnesses of the complainant, appellant in this Court, was that a corporation had been formed at the instance of complainant, to which was deeded certain property he owned in Florida, the purpose being, to quote the complainant, “a temporary cover up” and a protection against “possibility of judgments being executed against me,” as a result of “several unfortunate investments.”

The corporation possessed no assets other than this property and no consideration was paid for the forty-eight shares of capital stock issued to complainant’s…