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IN RE BULLION RESERVE OF NORTH AMERICA

No. 89-55375.

922 F.2d 544 (1991)

In re BULLION RESERVE OF NORTH AMERICA, a California Corporation, Debtor. Curtis B. DANNING, Chapter 7 Trustee, Plaintiff-Appellee, v. Michael L. MILLER, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided January 4, 1991.

Attorney(s) appearing for the Case

Michael Miller, Pro Per, Beverly Hills, Cal., for defendant-appellant.

Jeffrey C. Krause, Stutman, Treister & Glatt, Los Angeles, Cal., for plaintiff-appellee.

Before BOOCHEVER, BEEZER and TROTT, Circuit Judges.

TROTT, Circuit Judge:

This dispute arose from a transaction in which Alan Saxon, the president of Bullion Reserve of North America ("BRNA"), agreed to contribute $1.5 million to The Commercial Bank of California ("CBC") in exchange for an ownership interest in CBC.

Arnold Kopelson and Michael Miller were members of CBC's Board of Directors. CBC was desperately in need of capital, and Kopelson approached Saxon for a capital contribution. Saxon agreed. He caused...

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