Opinion ID: 1247936
Heading Depth: 1
Heading Rank: 8

Heading: Failure to Observe the Legal Formalities of the Corporation

Text: The trial judge found: There were few formal meetings of the corporation, Yost Brothers Company, conducted. Annual meetings were prepared by the corporate attorney, Richard F. Pickett, and sent to Robert Yost for his signature. Those corporate meetings frequently list A.C. Weber as president and participating, although he died in 1970.    The minutes list Peter Cheladyn as present and participating after 1975, although he had sold his stock and left the business that same year.    The meetings showed Gene Weber and Peter Cheladyn together at shareholder and director meetings although the testimony is that Gene Weber did not attend any company meetings and did not attend meetings with Mr. Cheladyn. Sharon Petzoldt, who worked for the defendant Yost Brothers Company since 1968, had never seen a corporate meeting. Given the rules which govern the parameters of our inquiry into the fact-finding aspects of the trial process, we find that there is substantial evidence to support the trial court's conclusion that appellee Harpel Oil Company is entitled to pierce the corporate veil of Yost Brothers Company to reach the assets of Robert B. Yost's estate.