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IN RE LOCHRIE

BAP No. OR-87-1178 EMeAs, Bankruptcy No. 685-08202-W7, Adv. No. 686-6027-W.

78 B.R. 257 (1987)

In re Michael M. LOCHRIE and Abbie A. Lochrie, Debtors. URBATEK SYSTEMS, INC., Appellee, v. Michael M. LOCHRIE and Abbie A. Lochrie, Appellants.

United States Bankruptcy Appellate Panels of the Ninth Circuit.

Decided September 11, 1987.

Attorney(s) appearing for the Case

Judith H. Uherbelau, Cottle, Howser & Munsel, P.C., Ashland, Or., for appellants.

Jeffrey M. Taylor, Honolulu, Hawaii, for appellee.

Before ELLIOTT, MEYERS and ASHLAND, Bankruptcy Judges.

OPINION

ELLIOTT, Bankruptcy Judge.

This is an appeal from a grant of summary judgment in favor of Urbatek Systems, Inc. We affirm in part and reverse and remand in part.

FACTS

Urbatek Systems, Inc., owned a radio station in Hawaii, which it sold to Michael and Abbie Lochrie in 1981. The Lochries signed a note for the purchase price and also personally guaranteed the contract of sale. The Lochries provided a financial statement to Urbatek...

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