Permian Petroleum Company v. Barrow

OPINION

WARD, Justice.

This suit was instituted by Permian Petroleum Company against T. J. Barrow, who was the president and active manager of the now defunct corporation, known as H. L. “Jack” Martin, Inc. The suit is an attempt to hold the corporate officer individually liable for a corporation debt on the theory that his alleged tortious conduct in converting property securing the indebtedness and in misapplying funds in the hands of the corporation created a personal liability. Trial was to the Court without a jury and judgment rendered for the defendant. We reverse and remand for a partial…