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PRODUCTION CREDIT ASS'N v. SHIRLEY

No. 90-253.

485 N.W.2d 469 (1992)

PRODUCTION CREDIT ASSOCIATION OF the MIDLANDS, f/k/a/ Clarinda Production Credit Association, Appellee, v. Bobby T. SHIRLEY, a/k/a Bob Shirley and Patricia Shirley, Appellants, and Taylor Enterprises, Inc., Lyle K. Taylor, and Georgia M. Taylor, Defendants.

Supreme Court of Iowa.

May 13, 1992.

Attorney(s) appearing for the Case

Vicki R. Danley, Sidney, for appellants.

Jerrold L. Strasheim and Timothy V. Haight of Baird, Holm, McEachen, Pedersen, Hamann and Strasheim, Omaha, Neb., for appellee.

Considered by McGIVERIN, C.J., and CARTER, NEUMAN, SNELL, and ANDREASEN, JJ.

McGIVERIN, Chief Justice.

Defendants Bob and Patricia Shirley appeal from a district court determination that they purchased certain corporate stock with actual intent to defraud plaintiff Production Credit Association of the Midlands. We affirm.

I. Background facts and proceedings. For many years prior to the present litigation, Lyle and Georgia Taylor conducted extensive farming and rental operations through their corporation, Taylor Enterprises,...

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