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OTR ASSOCIATES v. IBC SERVICES

801 A.2d 407 (2002)

353 N.J. Super. 48

OTR ASSOCIATES, Plaintiff-Respondent, v. IBC SERVICES, INC. a/k/a International Blimpie Corporation, a/k/a Blimpie International, Inc. and Garden State Blimpie, INC., Defendants-Appellants.

Superior Court of New Jersey, Appellate Division.

Decided July 3, 2002.

Attorney(s) appearing for the Case

David Scott Lafferty, Hackensack, argued the cause for appellants (Lafferty, Suh & Herlinsky, attorneys; John F. Verhey and Julie Garvey Davis of the Chicago firm of Seidler & McErlean, of counsel; Mr. Lafferty, on the brief).

Lawrence H. Wertheim, Woodbridge, argued the cause for respondent (Greenbaum, Rowe, Smith, Ravin, Davis & Himmel, attorneys; Mr. Wertheim, of counsel and on the brief).

Before Judges PRESSLER, CIANCIA and FUENTES.

The opinion of the court was delivered by PRESSLER, P.J.A.D.

The single dispositive issue raised by this appeal is whether the trial court, based on its findings of fact following a bench trial, was justified, as a matter of law, in piercing the corporate veil and thus holding a parent corporation liable for the debt incurred by its wholly owned subsidiary. We are satisfied that the facts, both undisputed and as found, present a textbook illustration of circumstances...

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