Martin v. Life Investors, Inc.

SNELL, Presiding Judge.

The plaintiff, the Trustee in Bankruptcy for the Ju-Li Corporation, appeals from a summary judgment for the defendant, Life Investors, Inc., in an action for breach of fiduciary duty. Ju-Li, a fast food vendor under a franchise, was a wholly-owned subsidiary of Life Investors from its creation in May of 1977 until it was sold to Patel Corporation in August of 1978. Patel Cor-jDoration continued operation of Ju-Li until February, 1979, when Ju-Li closed its doors and involuntary bankruptcy proceedings were initiated.

The trustee brought this action on behalf of the…