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MARTIN v. LIFE INVESTORS, INC.

No. 83-1367.

356 N.W.2d 597 (1984)

William D. MARTIN, Trustee in Bankruptcy for Ju-Li Corporation, Plaintiff-Appellant, v. LIFE INVESTORS, INC., Defendant-Appellee.

Court of Appeals of Iowa.

September 6, 1984.

Attorney(s) appearing for the Case

Richard P. Moore of Moyer & Bergman, Cedar Rapids, for plaintiff-appellant.

Theodore A. Livingston, Paula J. Morency, and Doreen A. Gagnon of Mayer, Brown & Platt, Chicago, Ill., for defendant-appellee.

Heard by SNELL, P.J., and HAYDEN and SACKETT, JJ.

SNELL, Presiding Judge.

The plaintiff, the Trustee in Bankruptcy for the Ju-Li Corporation, appeals from a summary judgment for the defendant, Life Investors, Inc., in an action for breach of fiduciary duty. Ju-Li, a fast food vendor under a franchise, was a wholly-owned subsidiary of Life Investors from its creation in May of 1977 until it was sold to Patel Corporation in August of 1978. Patel Corporation continued operation of Ju-Li until February, 1979, when Ju...

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