This appeal arose from an investment management dispute between two corporations and a related claim against a corporate director and officer personally.
The court held that where the formal legal relationship is between corporate entities, personal liability of a corporate officer must be specifically pleaded, including both the separate cause of action and the basis for suing the individual apart from the corporation.
The pleadings here did not sufficiently allege a personal claim or plead breach of fiduciary duty as against the individual, so the appeal on personal liability was allowed.
The cross-appeal on management fees was dismissed except for a minor agreed reduction of $3,887.
No costs were awarded.
