Rosenfield v. Metals Selling Corp.

The principal issue in this appeal and cross appeal is, under the facts of the case, the extent to which the business judgment rule shields a corporate officer from liability for depletion of corporate assets. This appeal is the culmination of a business dispute between two brothers, the plaintiff, Raymond Rosenfield, and the defendant Norman Rosenfield.1 The dispute involved two close corporations, the defend*774ants Metals Selling Corporation (Metals Selling) and Metalmast Marine, Inc. (Metalmast), owned and managed by the Rosenfields. Norman appeals and Raymond cross appeals from the judgment…