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RAY TOWNSEND FARMS, INC. v. SMITH

No. CA 04-800.

207 S.W.3d 557 (2005)

RAY TOWNSEND FARMS, INC. and Ray Townsend Individually, Appellants, v. Marjorie T. SMITH, Appellee.

Court of Appeals of Arkansas, Division IV.

April 27, 2005.

Attorney(s) appearing for the Case

T. David Carruth, Clarendon, for appellants.

Daggett, Donovan, Perry & Flowers by: Robert J. Donovan, Marianna, for appellee.

JOHN B. ROBBINS, Judge.

Appellee Marjorie Smith sued her nephew, appellant Ray Townsend,1 for allegedly mishandling the assets of a corporation in which they each owned fifty percent of the stock. Following a trial, the jury entered a verdict against appellant for $200,000 in compensatory damages and $50,000 in punitive damages. Sometime thereafter, the trial judge ordered liquidation of the...

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