Bankr. L. Rep. P 71,041 Delgado Oil Company, Inc. v. Michael R. Torres, James R. Cleveland

U.S. Court of Appeals, Tenth Circuit · Decided 1986-03-05

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JOHN P. MOORE, Circuit Judge. This is a diversity case in which plaintiff Delgado Oil Company (Delgado) recovered a judgment from defendant James R. Cleveland (Cleveland) upon a common law theory that Cleveland, a director of an insolvent corporation, Balducci Oil Company, Inc. (Balducci), was liable for losses incurred by the plaintiff. This action was maintained even though Ba…

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