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PACIFIC SCENE, INC. v. PENASQUITOS, INC.

Docket No. S003256.

46 Cal.3d 407 (1988)

758 P.2d 1182

250 Cal. Rptr. 651

PACIFIC SCENE, INC., et al., Cross-complainants and Appellants, v. PENASQUITOS, INC., et al., Cross-defendants and Respondents.

Supreme Court of California.

August 25, 1988.

Attorney(s) appearing for the Case

COUNSEL

Bacalski, Holdway & Prindle, Patrick L. Prindle, A. Daniel Bacalski, Randall D. Gustafson and Bacalski & Lincoln for Cross-complainants and Appellants.

Gary L. Wollberg and Jenkins & Perry as Amici Curiae on behalf of Cross-complainants and Appellants.

Wright & L'Estrange, Robert C. Wright, Christopher D. McIntire, Sternberg, Eggers, Kidder & Fox and Lawrence T. Dougherty for Cross-defendants and Respondents.

OPINION

MOSK, J.

We are called upon in this case to determine whether an action under the equitable "trust fund" theory can be maintained against the former shareholders of a dissolved corporation, to the extent of their distribution of corporate assets, when a defective product manufactured by the corporation causes injury after dissolution. We conclude that the Legislature has barred such an action.

Pacific Scene, Inc. ...

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