Advance Dry Wall Co. v. Regency Homes, Inc.

Plaintiff sought an accounting by individual defendants-directors of disposition of assets of the defunct Regency Homes, Inc., repayment to the corporation of any assets wrongfully diverted to the individual defendants-directors, and satisfaction of a previous judgment rendered against Regency Homes, Inc., in favor of plaintiff. The trial court, sitting without a jury, found that an accounting had been performed by defendants and that John A. Parks Co. v. General Discount Corp. (1940), 294 Mich 316, controlled the case. Plaintiff appeals.

Plaintiff argues that defendants have not accounted for…