Opinion ID: 380837
Heading Depth: 1
Heading Rank: 5

Heading: Director Liability

Text: 34 Finally, J-R Grain argues that the district court erroneously failed to hold Westin and Leech personally liable as directors of FAC for transferring its assets without consideration to D & D Commodity and thus defrauding J-R Grain as a creditor of FAC, citing in support part of the Nebraska Business Corporation Act, Neb.Rev.Stat. § 21-2046(3) (reissue 1977). 14 J-R Grain argues that the issue of directors' liability, although admittedly not raised by the pleadings, was raised at trial, tried by implied consent of the parties and should have been decided by the district court. See Fed.R.Civ.P. 15(b), 54(c). 35 The district court did not address this issue, stating in a footnote: 36 As a caveat, the Court expressly disclaims that this Memorandum decides, either directly or by implication, what rights, if any, the plaintiff may have against FAC, Inc., or its officers and stockholders, or D & D (Commodity) Company, or its officers and stockholders, for any monies allegedly due FAC, Inc., for unpaid capital stock subscriptions, if any, or for funds or property transferred without adequate compensation, if any, or any other reason. 37 J-R Grain Co. v. FAC, Inc., supra, slip op. at 10 n.6. In the context of the present case, this was a determination by the district court that the issue of directors' liability had not been raised at trial. We have reviewed the entire record and cannot say this determination was clearly erroneous. While we in no way express any opinion on the merits of such a claim, we note that the district court expressly left open the possibility of future litigation in a separate action against FAC and its officers and stockholders or D & D Commodity and its officers and stockholders. 38 Accordingly, the judgment of the district court is affirmed.