Legal Opinion
First National Bank of Council Bluffs v. One Craig Place, Ltd.
Supreme Court of Iowa
Decided March 18, 1981No. 64502PublishedCited by 7 opinions
1Opinion of the Court
UHLENHOPP, Justice.
This appeal involves the fiduciary duty owed by promoters, officers, and directors of a corporation to minority stockholders. The proceeding is in equity and we find the facts anew. Rowen v. Le Mars Mutual Insurance Co., 282 N.W.2d 639, 645 (Iowa 1979). The facts are largely determinative of the case.
Midlands Corporation was a wholly owned subsidiary of First National Bank of Council Bluffs (the Bank). It was in process of constructing a shopping mall, and desired to lease space to tenants. Guy and Diane K. Craig, spouses (the Craigs), conceived the idea of operating a…
2Cases cited13 opinions
- McCandless v. FurlaudSupreme Court of the United States · 1935
- Holden v. Construction MacHinery CompanySupreme Court of Iowa · 1972
- Rowen v. Le Mars Mut. Ins. Co. of IowaSupreme Court of Iowa · 1979
- Pringle Tax Service, Inc. v. KnoblauchSupreme Court of Iowa · 1979
- Hinkley v. Sac Oil & Pipe Line Co.Supreme Court of Iowa · 1906
8 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Kimmel v. Iowa Realty Co., Inc.Supreme Court of Iowa · 1983
- Midwest Management Corp. v. StephensSupreme Court of Iowa · 1984
- William F. Shidler v. All American Life & Financial Corp., Etc.Court of Appeals for the Eighth Circuit · 1985
- Watts v. Des Moines Register and TribuneDistrict Court, S.D. Iowa · 1981
- Union Oil Company of California, a California Corporation D/B/A Unocal v. Professional Realty Investments, Inc., a Michigan CorporationCourt of Appeals for the Sixth Circuit · 1995
2 more not listed; retrieve them via the Exa API.