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PETROLEUM ENHANCER, LLC v. WOODWARD

No. 11-1167.

690 F.3d 757 (2012)

PETROLEUM ENHANCER, LLC, Plaintiff/Counterclaim Defendant-Appellee, v. Lester R. WOODWARD, Defendant, Polar Molecular Corporation, Intervenor/Counterclaim/Third-Party Plaintiff, Polar Molecular Holding Corporation, Intervenor/Counterclaim/Third-Party Plaintiff-Appellant, Affiliated Investments, LLC, Richard Socia, Carl Hill, Bruce Becker, and A. Richard Nelson, Third-Party Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: August 10, 2012.

Attorney(s) appearing for the Case

ARGUED: Russell C. Babcock , The Mastromarco Firm, Saginaw, Michigan, for Appellant. John B. Alfs , Clark Hill PLC, Birmingham, Michigan, for Appellee. ON BRIEF: Russell C. Babcock , The Mastromarco Firm, Saginaw, Michigan, for Appellant. John B. Alfs , Clark Hill PLC, Birmingham, Michigan, for Appellee.

Before: MARTIN, GILMAN, and WHITE, Circuit Judges.

OPINION

RONALD LEE GILMAN, Circuit Judge.

Polar Molecular Holding Corporation (Polar Holding) was, at all times relevant to this lawsuit, a publicly held Delaware corporation and the sole shareholder of Polar Molecular Corporation (PMC), a company engaged in the petroleum-additive business. In 2006, PMC was in default on a loan for which it had pledged valuable intellectual property as collateral, and Polar Holding...

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