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MADSEN v. BORTHICK

No. 19704.

769 P.2d 245 (1988)

Richard D. MADSEN and Nancy Madsen, Boyd A. Swensen and Beatrice Swensen, Blaine Anderson and Sheree Anderson, Hope A. Hilton, Cynthia Hilton, Ralph M. Hilton, Gene Helland and the Middle East Foundation, Plaintiffs and Appellants, v. Mirvin D. BORTHICK, W. Smoot Brimhall, and John Does I to V, being former Commissioners of the Utah Department of Financial Institutions, Defendants and Appellees.

Supreme Court of Utah.

Rehearing Denied March 10, 1989.

Attorney(s) appearing for the Case

Daniel F. Bertch, Robert J. Debry, Phillip B. Shell, Salt Lake City, for plaintiffs and appellants.

David L. Wilkinson, Paul M. Warner, Stephen J. Sorenson, Salt Lake City, for defendants and appellees.

ZIMMERMAN, Justice:

Plaintiffs Richard D. and Nancy Madsen, Boyd A. and Beatrice Swensen, Blaine and Sheree Anderson, Hope A., Cynthia, and Ralph M. Hilton, Gene Helland, and the Middle East Foundation, all investors in the now-defunct Grove Finance Company ("the investors"), brought suit against defendants Mirvin D. Borthick and W. Smoot Brimhall, former commissioners of the Utah Department of Financial Institutions ("the Commissioners"). The investors seek to recover...

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