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ZANDITON v. FEINSTEIN

Nos. 87-1390, 87-1473 and 87-1474.

849 F.2d 692 (1988)

Arthur ZANDITON, et al., Plaintiffs, Appellees, v. Michael B. FEINSTEIN, et al., Defendants, Appellees, Theodore I. Libby, Harris B. Libby and Ernest A. Singer, Defendants, Appellants. Arthur ZANDITON, Plaintiff, Appellant, v. Michael B. FEINSTEIN, et al., Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided June 16, 1988.

Attorney(s) appearing for the Case

Steven A. Remsberg with whom Snyder, Tepper & Comen, Boston, Mass., was on brief for Arthur Zanditon.

William A. Horne with whom Goulston & Storrs, P.C., Boston, Mass., was on brief for Theodore I. Libby, Harris B. Libby and Ernest A. Singer.

Lois Bruckner Parks with whom Gary M. Ford, Gen. Counsel, John H. Falsey, Asst. Gen. Counsel, and Kevin L. Kehoe, were on brief for appellee Pension Ben. Guar. Corp.

Robert M. Bonin with whom Bonin & Zalcman, Boston, Mass., was on brief for appellee Robert M. Bonin.

Before COFFIN, TORRUELLA and SELYA, Circuit Judges.

COFFIN, Circuit Judge.

Republic Pipe & Supply Corporation (Republic Pipe), a closely held Massachusetts corporation, was owned by two family groups until 1973, when one of the groups sold all of their stock to the other family and resigned from the company. This case requires us to determine whether the family members who left remained responsible for the company's default on certain loans after their departure. The district court concluded that the family had...

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