Friday, February 26, 2010

Court reviews whether certain transactions were loans in order to determine whether defendants were responsible as alter egos of a defunct nonprofit corporation

CHRISTINA ALTICE v. NATS, INC. ET AL. (Tenn. Ct. App. February 26, 2010)

Judgment creditor sued defendants to collect a judgment against a defunct nonprofit corporation, claiming defendants were the alter egos of the defunct corporation. In a prior appeal, this court instructed the parties to focus on whether certain transactions were or were not loans. If they were loans, then the plaintiff could not prove her case to make the defendants responsible for the judgment against the defunct corporation. The trial court found that the transactions were loans. We affirm.

Opinion may be found at: