RAMCO v. H-K CONTRACTORS, INC.

No. 17734.

794 P.2d 1381 (1990)

118 Idaho 108

RAMCO, an Idaho corporation, Plaintiff-Respondent-Cross-Appellant, v. H-K CONTRACTORS, INC., an Idaho corporation, Defendant-Appellant-Cross-Respondent.

Supreme Court of Idaho.

June 15, 1990.


Attorney(s) appearing for the Case

Holden, Kidwell, Hahn & Crapo, Idaho Falls, for defendant-appellant-cross-respondent. Curt R. Thomsen argued, Idaho Falls.

Hall, Farley, Oberrecht & Blanton, Boise, for plaintiff-respondent-cross-appellant. Phillip S. Oberrecht argued, Boise.


McDEVITT, Justice.

In 1984, H-K Contractors, Inc. (H-K) reorganized following a difference of opinion by the three principal shareholders, Ranstrom, Charles and Foster. Under the reorganization plan, Ranstrom was to "spin-off" to form Ramco, Inc., and H-K was to transfer certain corporate assets to Ramco. Part of the transfer of assets to Ramco was 24.26% of tax savings to H-K due to its accumulated net operating loss carryover. At issue in this case is the distribution...

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