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ESTATE OF ARBOW v. ALLIANCE BANK

No. S-2960.

790 P.2d 1343 (1990)

ESTATE OF E. Donald ARBOW; Paul S. Buxton; Carolyn Buxton; Ronald Petersen; Ronald Feigin; W. Marshall Dotson, Jr.; Glenda Dodson, Appellants, v. ALLIANCE BANK, successor by merger to United Bank of Alaska, Appellee.

Supreme Court of Alaska.

April 20, 1990.

Attorney(s) appearing for the Case

J.L. McCarrey, III, William G. Stewart, McCarrey & McCarrey, Inc., Anchorage, for appellants.

David H. Bundy, Jo A. Kuchle, Mike Lahau, Guess & Rudd, A.M. Zahare, Bradbury, Bliss & Riordan, Anchorage, for appellee.

Before MATTHEWS, C.J., and RABINOWITZ, BURKE, COMPTON and MOORE, JJ.

OPINION

COMPTON, Justice.

This case arises from a default in the repayment of a $700,000 loan made by Alliance Bank [formerly United Bank of Alaska (UBA)] to shareholders of Alaska Laser Knights, Inc. (ALK). The superior court granted summary judgment in favor of UBA, holding the shareholders jointly and severally liable for the loan in accordance with their individual guarantees. We affirm.

I. FACTUAL AND PROCEDURAL BACKGROUND

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