Ferro, Inc., and Bolling R. Powell, Jr., Appellants v. John Thompson Beacon Windows, Ltd., Appellee, 278 F.2d 280 (D.C. Cir. 1960)Annotate this Case
Decided April 28, 1960
Petition for Rehearing Denied June 13, 1960
Mr. Bolling R. Powell, Jr., Washington, D. C., for appellants.
Mr. John J. Sexton, Washington, D. C., with whom Mr. Harry M. Plotkin, Washington, D. C., was on the brief, for appellee.
Before Mr. Justice REED, retired,* and EDGERTON and BASTIAN, Circuit Judges.
Appellant Ferro, Inc., an insolvent corporation, paid its debt to appellant Powell, its sole stockholder and managing director. The District Court found that this transfer of the corporation's funds was made with intent "to hinder or delay" appellee, a creditor. The finding is not clearly erroneous and supports the court's conclusion that the transfer was void as against appellee under D.C.Code, § 12-401.
Sitting by designation pursuant to 28 U.S.C. § 294(a)