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BABB v. ROTHROCK

23357

303 S.C. 462 (1991)

401 S.E.2d 418

Malcolm M. BABB, Respondent/Appellant v. Thomas B. ROTHROCK, Ronny E. Hendrix, and Raymond S. Schild, Defendants, of whom Raymond S. Schild is Appellant/Respondent, and Ronny E. Hendrix is Respondent/Appellant.

Supreme Court of South Carolina.

Decided February 25, 1991.

Attorney(s) appearing for the Case

James B. Van Osdell and Cynthia Graham Howe, of Van Osdell, Lester, Howe & Rice, P.A., Myrtle Beach, for appellant/respondent Raymond S. Schild.

Frank H. DuRant, Myrtle Beach, for respondent/appellant Ronny E. Hendrix.

T.E. Pedersen, Charleston, and James B. Richardson, Jr., of Svalina, Richardson & Smith, Columbia, for respondent/appellant Malcolm M. Babb.

Heard February 6, 1991.

Decided February 25, 1991.

CHANDLER, Justice:

This litigation between four shareholders of a defunct corporation is here on direct appeal from the Master-in-Equity to whom it was referred for final judgment.

We affirm in part and reverse in part.

I. FACTS

In January, 1982, Anchor Management, Inc. (AMI) was incorporated to manage Myrtle Beach resort property. Its shareholders were Thomas B. Rothrock...

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