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IN RE JACKSON

Bankruptcy No. 291-20207-7, Adv. No. 291-2018.

141 B.R. 909 (1992)

In re Donald Edward JACKSON aka/dba D.E. Jackson, CLU, RHU, LUTCF, dba Jackson Company and Jeanne Merle Brown Jackson, aka/dba Agent Service Company, Debtors. ASSURANCE SYSTEMS CORPORATION, ASC Management, Inc., and Leslie C. Clary, Plaintiffs, v. Donald E. JACKSON and Jeanne Jackson, dba Agent Service Company, Defendants.

United States Bankruptcy Court, N.D. Texas, Amarillo Division.

June 30, 1992.

Attorney(s) appearing for the Case

Karl L. Baumgardner, Conant, Whittenburg, Whittenburg & Schachter, Amarillo, Tex., for plaintiffs.

William R. McKinney, Jr., Amarillo, Tex., for defendants.

MEMORANDUM OF OPINION ON CORPORATE FIDUCIARY RESPONSIBILITY

JOHN C. AKARD, Bankruptcy Judge.

Leslie C. Clary, a stockholder of Assurance Systems Corporation (ASC), the principal stockholder of ASC Management, Inc. (Management), and a personal guarantor of some of the corporate obligations, brought this action in the nature of a stockholders' derivative suit against Donald E. Jackson and Jeanne Jackson (Jacksons) asserting that the Jacksons as officers and...

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