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RHODE ISLAND HOSP. TRUST NAT. BANK v. HOWARD COM.

No. 92-1524.

980 F.2d 823 (1992)

RHODE ISLAND HOSPITAL TRUST NATIONAL BANK, Plaintiff, Appellee, v. HOWARD COMMUNICATIONS CORPORATION, et al., Defendants, Appellees, Robert T. Howard, et al., Defendants, Appellants.

United States Court of Appeals, First Circuit.

Decided December 9, 1992.

Attorney(s) appearing for the Case

John F. Henning, Jr., for appellants.

Sabin Willett with whom Patricia J. Hill and Bingham, Dana & Gould, were on brief, for appellee.

Before BREYER, Chief Judge, CYR and BOUDIN, Circuit Judges.

CYR, Circuit Judge.

Between 1988 and 1990, appellants Robert Howard and Scott Robb held FCC licenses to operate several radio stations through two closely-held companies, Howard Communications Corporation and Citicom Radio of Pittsfield [hereinafter collectively, the "Companies"].1 In 1990, the Companies defaulted on a $2.65 million loan, personally guaranteed by Howard and Robb. Rhode Island...

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