U.S. Court of Appeals for the Ninth Circuit, 1992

Raymond A. Schmoll v. Acands, Inc., a Pennsylvania Corporation, and Raytech...

U.S. Court of Appeals for the Ninth Circuit · Decided October 26, 1992

977 F.2d 499; 92 Daily Journal DAR 14489; 92 Cal. Daily Op. Serv. 8728; 1992 U.S. App. LEXIS 27466 (Federal Reporter, Second Series)

Opinion

977 F.2d 499

Raymond A. SCHMOLL, Plaintiff-Appellee,
v.
ACANDS, INC., a Pennsylvania Corporation, et al., Defendants,
and
Raytech Corporation, Defendant-Appellant.
Raymond A. SCHMOLL, Plaintiff-Appellee,
v.
ACANDS, INC., a Pennsylvania Corporation, et al., Defendants,
and
Raytech Corporation, Defendant-Appellant.

Nos. 89-35101, 89-35168.

United States Court of Appeals,
Ninth Circuit.

Argued and Submitted Sept. 15, 1992.
Decided Oct. 26, 1992.

William N. Reed, H. Mitchell Cowan, J. Randall Patterson, Watkins Ludlam & Stennis, Jackson, Miss., for defendant-appellant.

Henry Kantor, Jeffrey S. Mutnick, Pozzi, Wilson, Atchison, O'Leary & Conboy, Portland, Or., for plaintiff-appellee.

Appeal from the United States District Court for the District of Oregon; Owen M. Panner, Chief Judge.

Before: BEEZER, NOONAN, and TROTT, Circuit Judges.

ORDER

Under Oregon law, creditors have priority over shareholders in all of the future earnings of an insolvent corporation. We have reviewed the record in No. 89-35168 and we affirm the district court's judgment on the grounds stated in its opinion. Schmoll v. ACandS, Inc., 703 F.Supp. 868 (D.Or. 1988).

We dismiss Raytech's appeal of an interlocutory order in No. 89-35101.

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