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IN RE CEILING FAN DISTRIBUTOR, INC.

Bankruptcy No. 83-00655.

37 B.R. 701 (1983)

In re The CEILING FAN DISTRIBUTOR, INC., Debtor.

United States Bankruptcy Court, M.D. Louisiana.

December 1, 1983.

Attorney(s) appearing for the Case

Thomas Balhoff, Baton Rouge, La., for Harold L. Rowley.

David Bratcher and Margaret Shook, Baton Rouge, La., for Target, Inc.

FINDINGS OF FACT

WESLEY W. STEEN, Bankruptcy Judge.

(1) The Ceiling Fan Distributor, Inc. (debtor) incorporated on May 7, 1981.

(2) Upon formation, and continuously since then, Lee Rowley owned 50% and Larry Bachuss owned 50% of corporate stock. They were the only directors of the company.

(3) About November 1981, Bachuss and Rowley had a dispute. Rowley left the company; Bachuss continued to operate it.

(4) Rowley withdrew $23,000...

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