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CHRISTOPHER v. LIBERTY OIL & GAS CORP.

No. 94 CW 2280.

665 So.2d 410 (1995)

Dr. James L. CHRISTOPHER, Alton B. Ducote, Dr. Harry J. Kellerman, Nolen C. Miller and Harry John Kellerman, Trustee v. LIBERTY OIL & GAS CORPORATION, James L. Moore and Paul R. Kendrick as Liquidator of Frisco Oil & Gas Corporation.

Court of Appeal of Louisiana, First Circuit.

Rehearing Denied January 23, 1996.

Writ Denied March 29, 1996.

Attorney(s) appearing for the Case

Louis Simon, Ben L. Mayeaux, Lafayette, for Plaintiffs/Appellees.

Guy E. Wall, William T. D'Zurilla, New Orleans, for Liberty Oil & Gas Corp., James L. Moore & Frisco Oil & Gas Corp., Appellants.

Before LeBLANC, WHIPPLE and FOGG, JJ.

LeBLANC, Judge.

We granted certiorari in this matter to determine whether a shareholders' derivative or secondary action may be brought by a former shareholder.

The plaintiffs, Dr. James Christopher, Alton B. Ducote, Dr. Harry J. Kellerman, individually and as trustee of the Harry J. Kellerman Trust, and Hazel B. Miller, were shareholders of Frisco Oil & Gas Corporation (Frisco) in May of 1977 when Frisco transferred two oil wells to defendant, Liberty...

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