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UNITED INDEPENDENT INS. AGENCIES v. BANK OF HONOLULU

No. 9569.

718 P.2d 1097 (1986)

UNITED INDEPENDENT INSURANCE AGENCIES, INC., a Hawaii corporation, Plaintiff-Appellant, v. BANK OF HONOLULU, Defendant-Appellee, and Mario R. Ramil, Receiver of Financial Security Insurance Company, Intervenor on Appeal.

Intermediate Court of Appeals of Hawaii.

April 7, 1986.

Attorney(s) appearing for the Case

James P. Dandar (Gary Y. Shigemura and Randall Y.C. Ching, with him on the briefs; Shigemura & Ching, A Law Corp., of counsel), Honolulu, for plaintiff-appellant.

Steven H. Levinson (Denis C.H. Leong, with him on the brief and position brief; Damon, Key, Char & Bocken, A Law Corp., of counsel), Honolulu, for defendant-appellee.

Don Jeffrey Gelber (Robert J. Faris, with him on the position brief; Gelber & Gelber, A Law Corp., of counsel), Honolulu, for intervenor on appeal.

Before BURNS, C.J., and HEEN and TANAKA, JJ.

TANAKA, Judge.

This is an appeal by plaintiff United Independent Insurance Agencies, Inc. (UIIA) from a summary judgment in favor of defendant Bank of Honolulu (Bank). The crucial legal question in the case is whether the sellers or the purchaser of all of the shares of stock of UIIA's parent corporation, Federated Insurance Agency, Inc. (Federated), which had been pledged by the sellers to Bank, had the right to vote those...

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