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MONTCASTLE v. BAIRD

723 S.W.2d 119 (1986)

Paul MONTCASTLE, et al, Plaintiffs-Appellants, v. Lendon BAIRD and Juanita Baird, Defendants-Appellees. Eleanor Baird EBLEN, et al, Plaintiffs-Appellees, v. ELK VALLEY COAL & IRON COMPANY, et al, Defendants-Appellees. Mrs. Jessie WALLACE, et al, Plaintiffs-Appellees, v. Lendon BAIRD, et al, Defendants-Appellees.

Court of Appeals of Tennessee, Eastern Section.

Permission to Appeal Denied November 24, 1986.

Attorney(s) appearing for the Case

Maclin P. Davis, Jr., Waller, Lansden, Dortch & Davis, Nashville, and Joseph G. Coker, Jacksboro, for plaintiffs-appellants.

Keith McCord and Jerome Templeton, Knoxville, for defendant-appellee Lendon Baird.

Norbert Slovis, Lockett, Slovis & Weaver, Knoxville, for plaintiffs-appellees Jessie Wallace, et al. and Eleanor Baird Eblen, et al.

J. Stephen Hurst, Rogers, Hurst & Kruschenski, LaFollette, for appellees-respondents David B. Rogers, Dottie C. Bryant and Robert Baird.

Roy L. Aaron, Hodges, Doughty & Carson, Knoxville, for appellee-receiver.

Permission to Appeal Denied by Supreme Court November 24, 1986.

OPINION

SANDERS, Judge.

The pivotal question on this appeal is whether or not attorneys representing a sub-class of thirteen percent of the outstanding shares of stock of a defunct corporation should be allowed attorneys' fees and expenses out of the total common fund.

This case has its genesis back in 1939, when the charter of Elk Valley Coal and Iron Company [Elk Valley], a...

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