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ALPER v. ALTHEIMER & GRAY

No. 00-3192.

257 F.3d 680 (2001)

Pamela J. ALPER and Michael N. Alper, Plaintiffs, v. ALTHEIMER & GRAY, an Illinois partnership, Myron Lieberman, and Robert L. Schlossberg, Defendants-Third/Party Plaintiffs-Appellants, v. BICKEL & BREWER, a Texas partnership, Third/Party Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided November 16, 2000.

Opinion July 12, 2001.

Rehearing Denied August 13, 2001.

Attorney(s) appearing for the Case

Robert P. Cummins, Cummins & Cronin, Chicago, IL, for Plaintiffs.

Thomas P. Sullivan, David Jimenez-Ekman (argued), Jenner & Block, Chicago, IL, for Defendants-Appellants.

J. Kent Mathewson, Karen Kies DeGrand (argued), Donohue, Brown, Mathewson & Smyth, Chicago, IL, for Defendant-Appellee.

Before KANNE, DIANE P. WOOD, and WILLIAMS, Circuit Judges.

Rehearing En Banc Denied August 13, 2001.

KANNE, Circuit Judge.

We are occasionally presented with corporate transactions gone awry, and it is a characterization that aptly describes the case before us. Pamela J. Alper and Michael N. Alper (the Alpers) owned 100% of the shares of Terrific Promotions, Inc. (TPI). Through TPI, the Alpers engaged in two businesses: 1) a retail business, Dollar Bill$, whose 136 stores sold consumer goods priced mostly at one dollar...

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