This action involved the dissolution of a business enterprise, whereby Plaintiff and Defendant jointly purchased real estate and formed a company for the rehabilitation and sale of properties. At issue were joint funds and assets including real estate proceeds, life insurance policies and bank accounts. In a counterclaim, Defendant alleged that Plaintiff had taken a large salary from a real estate purchase discount, had not turned over Defendant's interest in the sale of a restaurant, unilaterally cashed in a life insurance policy on Defendant's life, and deposited insurance proceeds from a jointly-held property damage claim into an account held by Plaintiff and her mother. Plaintiff maintained that the business proceeds were used for rehabilitation projects and other legitimate business reasons. The case was tried as a bench trial. Defendant was awarded on her counterclaim.
Thoman v. Kelley