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CITY BANK OF HONOLULU v. RIVERA DAVILA

Nos. 7432, 7447.

438 F.2d 1367 (1971)

CITY BANK OF HONOLULU, Plaintiff, Appellee, v. Artemio RIVERA DAVILA, Defendant, Appellant. Gerasimo Rodriguez, Defendant (two cases).

United States Court of Appeals, First Circuit.

March 8, 1971.

Attorney(s) appearing for the Case

F. J. Perez Almiroty, Santurce, P. R., for appellant.

Harry E. Woods, Santurce, P. R., with whom Baker & Woods, Santurce, P. R., was on brief, for appellee.

Before ALDRICH, Chief Judge, McENTEE and COFFIN, Circuit Judges.

McENTEE, Circuit Judge.

In 1964 the defendant, Artemio Rivera Davila (hereinafter Rivera), a resident of Puerto Rico, organized a Hawaiian corporation known as Aloha Aluminum Extrusion Corporation (Aloha). He was president and the majority stockholder of the corporation. The defendant, Gerasimo Rodriguez, also a Puerto Rican, was vice-president and resident general manager. Soon after organization Aloha found itself in financial...

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