In this boundary line dispute between two neighbors, one hired a surveyor to determine the property line while the other built a fence and declared it his. The Court of Appeals determined the fence builder took it too far and awarded the other party the rare frivolous appeal damages. Cumberland Advisory Group, LLC (“CAG”) purchased property with plans to demolish the current structure and erect...read more
Former Shareholder Liability for Prior Use of Corporate Funds for Personal Use – What Standard Should Apply?
In a recent case, the Tennessee Court of Appeals, affirming the holdings of a trial court, held that the phrase “assets used in conducting the business” was ambiguous, with respect to establishing the breadth of assets transferred in a stock transfer agreement, and set forth seemingly new caselaw on the personal liability of former sole shareholders of a closely held corporation for challenged...read more