Foster v. Arata

OPINION

By the Court,

Badt, C. J.:

Foster and Parman and others, appellants here, as plaintiffs below, sued Arata, Gianelli and Battilana, defendants below and respondents here, in a derivative action seeking a decree declaring void two deeds of trust and a chattel mortgage executed to the defendants by Tahoe Enterprises Incorporated whose stock was owned in part by the plaintiffs and in part by the defendants. By sale under the powers the defendants had bought in all of the mortgaged real and personal property and thereafter sold the same to third parties. For a period prior to the…