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BLOHM v. KELLY

No. A08-1157.

765 N.W.2d 147 (2009)

D. Randall BLOHM, Appellant, v. Bruce D. KELLY, et al., Respondents.

Court of Appeals of Minnesota.

May 12, 2009.

Attorney(s) appearing for the Case

John D. Hagen, Jr., Minneapolis, for appellant.

Timothy P. McCarthy, Chestnut & Cambronne, P.A., White Bear Lake, for respondents.

Considered and decided by ROSS, Presiding Judge; HALBROOKS, Judge; and JOHNSON, Judge.

OPINION

JOHNSON, Judge.

BNK, Inc., is a closely held corporation that previously owned a small business. Bruce D. Kelly, the sole officer and director, owns 80 percent of the shares; D. Randall Blohm owns 20 percent of the shares. After BNK sold all of its corporate assets for approximately $112,200, Kelly caused BNK to distribute $2,400 of the proceeds to Blohm. Blohm sued Kelly and BNK, alleging that Kelly misappropriated some of the proceeds of the sale...

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