Legal Opinion
McLemore v. Olson (In Re B & L Laboratories, Inc.)
United States Bankruptcy Court, M.D. Tennessee
Decided June 23, 1986No. Bankruptcy No. 284-02413, Adv. No. 284-0451PublishedCited by 18 opinions
1Opinion of the Court
MEMORANDUM
KEITH M. LUNDIN, Bankruptcy Judge.
The “veil” of this debtor corporation is appropriately “pierced” to subject the debt- or’s shareholders to personal liability for the claims against this estate. The debtor was a sham corporation, organized and operated to carry out an illegal scheme. The partnership defendants were controlled by the debtor’s shareholders and performed as integral parts of a fraud on creditors. The defendants are liable as partners and as the recipients of an unlawful distribution of B & L’s assets. Defendants Olson and Fisher are individually liable for breach of…
2Cases cited38 opinions
- United States v. Grinnell Corp.Supreme Court of the United States · 1966
- Pepper v. LittonSupreme Court of the United States · 1939
- Burks v. LaskerSupreme Court of the United States · 1979
- In the Matter of Missionary Baptist Foundation of America, Inc., Debtors. Robert B. Wilson, Trustee v. Robert G. HuffmanCourt of Appeals for the Fifth Circuit · 1983
- Electric Power Board of Chattanooga v. St. Joseph Valley Structural Steel Corp.Tennessee Supreme Court · 1985
33 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Schlater v. HaynieCourt of Appeals of Tennessee · 1991
- Limor v. Buerger (In Re Del-Met Corp.)United States Bankruptcy Court, M.D. Tennessee · 2005
- Pereira v. Centel Corp. (In Re Argo Communications Corp.)United States Bankruptcy Court, S.D. New York · 1991
- Boles v. National Development Co., Inc.Court of Appeals of Tennessee · 2005
- Cuthill v. Kime (In Re Evergreen Security, Ltd.)United States Bankruptcy Court, M.D. Florida · 2003
13 more not listed; retrieve them via the Exa API.