Boyd Law Student Amanda Vaskov reviewed the initial rulings and drafted summaries for the platform.
The pilot program features three distinct judicial opinions drafted by Judge Gall. These rulings test statutory business judgment rules, asset preservation rules, and personal jurisdiction limits.
Passley v. Ameritek Ventures
Ameritek acquired fiber-optic technology assets but lost its capital investors and failed to generate revenue.
After Ameritek directors resigned, stockholder Passley petitioned for appointment as custodian under NRS 78.347. The court appointed him, but he subsequently appointed himself sole director and officer while executing numerous transactions with companies he controlled.
Clinton Stokes and Meridian Pacific Holdings brought derivative claims on Ameritek’s behalf to void the transactions. “acted as custodian while concurrently serving as an officer and director,” the court concluded regarding Passley's transactions for his own benefit without meaningful oversight.
David Corbett v. Gary Rhea Insurance Agency
Corbett sold his insurance agency's book of business to Gary Rhea Insurance Agency.
He alleged that the Rhea agency defaulted on payments while continuing operations. Corbett sought an accounting, record preservation, and a freeze order.
The court ruled that the parties were already under an obligation to preserve relevant evidence. Because Corbett established no imminent risk of asset dissipation, the preliminary injunction failed.
Hanchil Kim and Hyunju Lee v. Yoon-Sik Kim and Olden Star, Inc.
Hanchil Kim and Hyunju Lee sued director Yoon-Sik Kim and named Olden Star, Inc. as a nominal defendant.
The couple held a 10 percent beneficial interest in Olden Star. They alleged that Yoon-Sik defamed them, removed Hanchil as board president, and barred them from an Uzbek subsidiary golf club.
Yoon-Sik lived in Seoul, Korea, and plaintiffs identified no Nevada contacts beyond his board role. Under Consipio Holding BV v. Carlberg, director status alone does not establish personal jurisdiction.
Questions About Ameritek Ventures Custodianship and Nevada Statutes
What triggered the Ameritek Ventures custodianship removal?
Shaun Passley assumed control as custodian, appointed himself sole officer and director, and executed related-party transactions without required reporting or transparency.
Why did the court deny Corbett’s preliminary injunction?
David Corbett failed to demonstrate actual or imminent asset dissipation by the Rhea agency to frustrate a future judgment.
What statute governs Nevada corporate director consent?
NRS 75.160 is a statute that provides for consent to the appointment of a registered agent as an agent for service of process for management persons of entities.