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CEDAR LANE INV. v. AMERICAN ROOFING

No. 95CA0602.

919 P.2d 879 (1996)

CEDAR LANE INVESTMENTS, a Colorado general partnership, Plaintiff-Appellee, v. AMERICAN ROOFING SUPPLY OF COLORADO SPRINGS, INC., a Colorado Corporation, Defendant-Appellant.

Colorado Court of Appeals, Div. IV.

Rehearing Denied May 23, 1996.

Attorney(s) appearing for the Case

Quimby & Higgins, B. Douglas Quimby, Sharon A. Higgins, Jayne Candea-Ramsey, Colorado Springs, for Plaintiff-Appellee.

Bill Edie, Colorado Springs, for Defendant-Appellant.

The Iuppa Law Firm, Barney Iuppa, Colorado Springs, for Defendant-Appellant (on the opening brief).

Opinion by Judge BRIGGS.

In this quiet title action, defendant, American Roofing Supply of Colorado Springs, Inc. (American Roofing), appeals from the judgment in favor of plaintiff, Cedar Lane Investments (Cedar Lane). We affirm in part, reverse in part, and remand for further proceedings.

Allan Capps, a stockholder and employee of American Roofing, embezzled more than $200,000 from the company. Approximately $50,000 of this amount was used as a down payment...

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