In The Matter Of Plants And Facilities Co., Inc.

441 F.2d 275 In the Matter of PLANTS AND FACILITIES CO., Inc., Bankrupt. Curtis E. FULLER and Catherine M. Fuller, Respondents-Appellants, v. PLANTS AND FACILITIES CO., Inc., Bankrupt-Appellee. No. 26585. United States Court of Appeals, Ninth Circuit. March 30, 1971. Daniel B. Condon, of Joslyn, Roeth, Angerhofer & Condon, Pasadena, Cal., for appellant. William J. Tiernan, Tiernan & Moneymaker, Los Angeles, Cal., for appellee. Before CARTER, WRIGHT and TRASK, Circuit Judges. PER CURIAM: 1 The Fullers appeal from a district court order affirming the judgment of the referee-in-bankruptcy. The judgment against the Fullers and in favor of the trustee-in-bankruptcy was in the amount of $23,130 plus interest. We affirm. 2 The Fullers, husband and wife, owned all stock of the bankrupt corporation. Mr. Fuller was president and director and Mrs. Fuller was secretary and director. They purchased welding equipment for $5,800 in 1965, then agreed between themselves to lease it to the corporation for a monthly rental of $840. They paid themselves from funds of the bankrupt corporation $28,680. The entire transaction was oral. No directors' or shareholders' meetings were held with…