Zokoych v. Spalding

This appeal arises from the third trial between plaintiff and defendants where evidence was presented on the question of the value of Ample Tool and Manufacturing, Inc. (Ample), a closely held company in which Stephen Zokoych and Bruce Spalding (Spalding) were the principal shareholders. Ample ceased doing business in 1970.

In the first appeal (Zokoych v. Spalding (1976), 36 Ill. App. 3d 654, 344 N.E.2d 805) we affirmed the trial court’s award to plaintiff of compensatory damages and further held that because defendants were guilty of fraud and conspiracy, the court’s award of punitive damages…