+1-415-670-9189
info@expertsmind.com
Green & freedman baking company
Course:- Management Theories
Reference No.:- EM131045228




Assignment Help
Assignment Help >> Management Theories

Green & Freedman Baking Company (Green & Freedman) was a family-owned Massachusetts corporation that produced and sold baked goods. The terms of a collective bargaining agreement required Green & Freedman Baking Company to make periodic payments on behalf of its unionized drivers to the New England Teamsters and Baking Industry Health Benefits and Insurance Fund (Health Fund). After sixty years of operation Green & Freedman experienced financial difficulties and ceased to make the agreed-upon contributions. They mixed their own finances with those of Green & Freedman's.

The Elmans, through their domination of Green & Freedman, caused the corporation to make payments to themselves and their relatives at a time when the corporation was known to be failing and could be expected to default, or was already in default, on its obligations to the Health Fund. It then transferred all remaining assets to a successor entity named Boston Bakers, Inc. (Boston Bakers). Boston Bakers operated essentially the same business as Green & Freedman until its demise two years later. The Health Fund sued Green & Freedman, Boston Bakers, and the two corporations' principals, Richard Elman and Stanley Elman, to recover the payments owed by Green & Freedman with interest, costs, and penalties. There was no evidence of financial self-dealing in the case of Boston Bakers. Both corporate defendants conceded liability for the delinquent contributions owed by Green & Freedman to the Health Fund. The suit against the Elmans was based on piercing the corporate veil with respect to Green & Freedman and Boston Bakers. The Elmans, however, denied they were personally liable for these corporate debts. Are the Elmans liable? Explain.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Management Theories) Materials
awk-Dove Game. Two companies both want to take over a sales territory. They have the choices of defending the territory and fighting if necessary, or act as if willing to fi
BSBLDR501-DEVELOP AND USE EMOTIONAL INTELLIGENCE. Explain emotional intelligence principles and strategies. Describe the relationship between emotionally effective people and
Develop the event. Explain how it aligns with the firm's mission with a definable target audience. Describe how you will link the image of the firm and the event. Keep in mind
What if I am a production worker and my company wants to go to a self manage arrangement, what are some things we can do to solve the problem, make the decision that in the pa
Assumptions in CAPM and cost of failure You are the managing partner at a venture capital firm, and you feel that to solidify your status as a full-service institution, you
You are required to answer all questions. Your initial submission must include BOTH assignments. If one or more assignments are referred, you can resubmit these on an indiv
Assume that a CPA serves as an audit client's business consultant and performs each of the following services for the client. Discuss whether independence would be impaired
Moe, Larry, and Curly are in a two round truel. In round 1, Larry fires first, then Moe, then Curly. Each stooge gets one shot in round 1. Each stooge can choose to fire at