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FEDERAL DEPOSIT INS. CORP v. BISMARCK INVEST. CORP.

No. 14098.

547 P.2d 212 (1976)

FEDERAL DEPOSIT INSURANCE CORPORATION, Successor in interest to First National Bank of Coalville, Plaintiff and Respondent, v. BISMARCK INVESTMENT CORPORATION, a Corporation, and R.M. Hart, Defendants and Appellants.

Supreme Court of Utah.

March 15, 1976.

Attorney(s) appearing for the Case

Dwight L. King, Salt Lake City, for defendants and appellants.

S. Rex Lewis, Howard, Lewis & Petersen, Provo, for plaintiff and respondent.

ELLETT, Justice:

This is an action to enforce a guaranty agreement signed by Bismarck Investment Corporation and R.M. Hart. The case was tried to the court, sitting without a jury, and judgment was entered for plaintiff against R.M. Hart in the sum of $216,666.

Bismarck Investment Corporation filed a petition for an arrangement in bankruptcy under Chapter 11 and as a consequence all proceedings in this case against Bismarck have been stayed.

Mr. Hart...

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