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P G METALS CO. v. HOFKIN

420 Pa. 620 (1966)

P G Metals Co. v. Hofkin, Appellant.

Supreme Court of Pennsylvania.

March 22, 1966.

Attorney(s) appearing for the Case

I.I. Jamison, with him Folz, Bard, Kamsler, Goodis & Greenfield, for appellant.

Abraham L. Shapiro, with him Norman C. Henss, H. Laddie Montague, Jr., and Cohen, Shapiro, Berger and Cohen, for appellee.

Before BELL, C.J., MUSMANNO, JONES, COHEN, EAGEN, O'BRIEN and ROBERTS, JJ.

OPINION BY MR. JUSTICE O'BRIEN, March 22, 1966:

Prior to December 29, 1961, appellant, Hofkin, was a director and secretary of the Penn Galvanizing Company. He owned 25% of the stock of that company, the remainder being owned by or for other members of his family. On that date, all of the stock and assets of Penn Galvanizing were sold to P G Metals Company, Inc., appellee. Included in the assets transferred to P G Metals was...

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