On November 17, 1980, plaintiffs loaned defendant Bluegrass Elkhorn Coal Corporation (Bluegrass) the amount of $150,000. The loan was evidenced by four promissory notes (convertible into Bluegrass common stock at plaintiffs' option), two payable on November 17, 1981, and two on November 17, 1983. Defendants Broder and Malesko, the only owners of Bluegrass stock, guaranteed payment of each of these notes upon identical terms. Bluegrass failed to make the first interest payment...
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