The “Talking Heads decision,” is a slighly notorious Fifth Circuit Appeals decision in which the court quoted dozens of Talking Heads songs and lyrics.
Raleigh Abner had a wild, wild life ofcorporate “alter egos” since he was not responsible to a viable boardof directors or supervisory corporate officers for any businesstransaction he consummated. For purposes of the present appeal,however, the only transaction of consequence is the sale of the Abnerfamily residence at 303 Lakeside Lane in Webster, Texas. This house waspurchased for approximately $ 240,000 by Raleigh Abner in hisindividual capacity in late 1979 and refurbished with thousands ofdollars “borrowed” from a few of Raleigh Abner’s companies. In 1982 theAbners decided to pull up the roots, so the house wasconveyed to “303 Lakeside Group, Inc.,” a corporation created byRaleigh Abner to hold the homestead and allow him to borrow against thecontract of sale with the purchaser of the property. n1 The 303Lakeside home eventually sold for approximately one milliondollars.
Link (Thanks, Kevin!)