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SECURITY PACIFIC BANK v. HAINES TERMINAL

No. S-5340.

869 P.2d 156 (1994)

SECURITY PACIFIC BANK, N.A., Appellant, v. HAINES TERMINAL AND HIGHWAY COMPANY, INC., an Alaska Corporation d/b/a White Pass Alaska, Appellee.

Supreme Court of Alaska.

Rehearing Denied March 31, 1994.

Attorney(s) appearing for the Case

Gregory W. Lessmeier, Hughes, Thorsness, Gantz, Powell & Brundin, Juneau, for appellant.

William G. Ruddy, Ruddy, Bradley & Kolkhorst, Juneau, for appellee.

Before MOORE, C.J., and RABINOWITZ, MATTHEWS, and COMPTON, JJ.

OPINION

MOORE, Chief Justice.

INTRODUCTION

In this commercial transaction dispute, Security Pacific Bank, a secured creditor of Chilkoot Lumber Company, appeals an order issued by the superior court allowing Haines Terminal and Highway Company, an unsecured creditor of Chilkoot Lumber, to recover approximately $23,000 from a bond posted by Security Pacific. The superior court based this decision on its finding that Security Pacific...

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