Willis v. Spring Canyon Copper Co.

1 Citing case

  1. Steenblik v. Lichfield

    906 P.2d 872 (Utah 1995)   Cited 15 times
    Holding that officers and directors are liable for corporate debts incurred after suspension of corporation and noting that this is the majority rule

    Lichfield also argues that Utah law requires more than nominal participation to establish liability under the Act. He relies on Willis v. Spring Canyon Copper Co., 4 Utah 2d 211, 291 P.2d 878 (1956), and Harper v. Tri-State Motors, Inc., 90 Utah 212, 58 P.2d 18 (1936), for support. Those cases construed the forerunner of the Utah Uniform Securities Act, which expressly limited liability to defendants who "participated" or "aided" in some way.