Willard v. Dobbins

This is an action by plaintiffs against defendants to recover the amount of a judgment obtained against the Valley Gas & Fuel Company, a defunct corporation, of which the defendants were directors.

The complaint is based upon the theory that there had been a distribution of the assets of the Valley Gas & Fuel Company among the defendants contrary to the provisions of section 309 of the Civil Code, leaving the plaintiffs with no means of satisfying the judgment against that corporation.

Section 309 of the Civil Code in part provides _ that the directors of a corporation must not, until after the…