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SHEPHERD v. BERING SEA ORIGINALS

No. 3210.

578 P.2d 587 (1978)

Kay SHEPHERD, Appellant, v. BERING SEA ORIGINALS, Arctic Originals and Carol Chase, Appellees.

Supreme Court of Alaska.

May 5, 1978.

Attorney(s) appearing for the Case

A. Lee Petersen, Fraties & Petersen, Anchorage, for appellant.

Jerry F. Melcher, Hughes, Thorsness, Gantz, Powell & Brundin, Anchorage, for appellees.

Before BOOCHEVER, C.J., and RABINOWITZ, CONNOR, BURKE and MATTHEWS, JJ.

OPINION

BOOCHEVER, Chief Justice.

This appeal involves the following questions: (1) whether a dismissal of Chapter XI bankruptcy proceedings by a bankruptcy court bars a secured creditor from litigating an issue that was resolved, as far as unsecured creditors are concerned, by the action of the bankruptcy court; and (2) whether the proceeds of an insurance policy on the life of the president of a closely-held corporation should be regarded as belonging...

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