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GARBADE v. GREAT DIVIDE MIN. AND MILL. CORP.

No. 86-2544.

831 F.2d 212 (1987)

Albert M. GARBADE, Jr., on behalf of himself and all other stockholders of Great Divide Mining and Milling Corporation, Plaintiff-Appellant, v. GREAT DIVIDE MINING AND MILLING CORPORATION, a Colorado corporation, and Milton M. Levin, Defendants-Appellees.

United States Court of Appeals, Tenth Circuit.

Rehearing Denied December 23, 1987.

Attorney(s) appearing for the Case

G. Robert Blakey of McGuire, Cornwell & Blakey, P.C. (F. Kelly Smith, with him on brief), Denver, Colo. for plaintiff-appellant.

John R. Henderson of Vranesh and Raisch, Boulder, Colo. for defendants-appellees.

Before SEYMOUR, SETH and BALDOCK, Circuit Judges.

SETH, Circuit Judge.

The defendant Great Divide Mining and Milling Corporation, a Colorado corporation, held several mining claims. It was organized by plaintiff's father who loaned it money from time to time. The defendant Levin later became the majority stockholder and he also loaned money to Great Divide beginning in the 1960s. He may have accepted shares of stock as payment for some of his loans. In 1976 Great Divide leased mining claims to Noranda Exploration...

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