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FIRST HAWAIIAN BANK v. ALEXANDER

Civ. No. 82-0090.

558 F.Supp. 1128 (1983)

FIRST HAWAIIAN BANK, Plaintiff, v. Denis D. ALEXANDER, Richard A. Cooke, Jr., Clifford Fujiwara, Glenn Okada, William Takabayashi, Henry K.F. Kersting, Michael Provan and Paul Simpson, Defendants.

United States District Court, D. Hawaii.

February 25, 1983.

Attorney(s) appearing for the Case

Edward A. Jaffe, Colin O. Miwa, Cades, Schutte, Fleming & Wright, Honolulu, Hawaii, for plaintiff.

George W. Brandt, Gail M. Kang, Honolulu, Hawaii, for Denis D. Alexander.

Thomas P. Dunn, Honolulu, Hawaii, for Henry K.F. Kersting.

Alexander C. Marrack, Hoddick, Reinwald, O'Connor & Marrack, Honolulu, Hawaii, for Richard A. Cooke, Jr.

John A. Chanin, Honolulu, Hawaii, for Clifford Fujiwara.

Walter G. Chuck, W. Gregory Chuck, Honolulu, Hawaii, for Glenn Okada and William Takabayashi.

Steven H. Levinson, Diane D. Hastert, Damon, Key, Char & Bocken, Honolulu, Hawaii, amicus curiae for Federal Sav. & Loan Ins. Corp.

Thomas P. Vartanian, Ralph W. Christy, Harvey Simon, Jeffrey M. Werthan, Federal Home Loan Bank Bd., Washington, D.C., amicus curiae.

DECISION AND ORDER

SAMUEL P. KING, Chief Judge.

BACKGROUND:

Plaintiff First Hawaiian Bank (hereafter FHB) loaned $1.8 million to the shareholders of approximately ninety percent of the shares of guaranty stock of First Savings and Loan (hereafter FS & L). FHB is the assignee of those shares. The Hawaii State Department of Regulatory Agencies and the Federal Home Loan Bank Board (hereafter FHLBB) ordered FS & L into receivership. According...

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