Protectoseal Company, an Illinois Corporation v. Charles Barancik
Court of Appeals for the Seventh Circuit
1Opinion of the Court
COFFEY, Circuit Judge.
The Protectoseal Company (Protectoseal) appeals the dissolution of a permanent injunction prohibiting Charles Barancik from serving as one of Prót'ectoseal’s directors. We affirm.
BACKGROUND
Protectoseal is a privately-held Illinois corporation engaged in the manufacture and sale of products such as safety cans, storage cabinets, drum vents, and safety faucets designed to handle and store flammable liquids. Barancik and his wife Margery are the sole owners of Justrite Manufacturing Company, one of Proteetoseal’s business competitors.-
In September of 1971, Barancik…
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