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




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
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
The current trend in many organizations is to use software service providers, also known as Software as a Service (SaaS). Is this a trend that should continue? What people,
MGMT 1100, CH 9 - If you were Lilly's CEO, what would you do and Is there a way for Lilly to effectively outsource drug development that gets around those risks? Tick-tock. T
The problem related to Management and it discusses about the difference between work and employment. The differences between work and employment have been clearly explained
Find two websites from possible competitors to your company or organizations with a similar mission to yours. Answer the following questions pertaining to these websites.
The Atlantic Coast Shipping Company has a warehouse terminal in Spartanburg, South Carolina. The capacity of each terminal dock is three trucks. As trucks enter the terminal
Mark the preferred decision for each of the four incidents and reply to the two questions that follow each incident. This exercise may also be undertaken in a small group. T
Using information from the case, conduct general research and describe some ways in which Massachusetts was able to reinvent its economic base. How do the methods used align w
Research the codes of conduct of a large company, such as Microsoft, and a small company in your local community and compare the issues that they cover. Describe the commonali