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THOMAS, HEAD & GREISEN EMPLOYEES TRUST v. BUSTER

No. 92-36732.

24 F.3d 1114 (1994)

THOMAS, HEAD & GREISEN EMPLOYEES TRUST; Ronald E. Greisen; Henry P. Head, Plaintiffs-Appellees, v. Jack BUSTER, Defendant-Appellant, and Terry D. Parks and Northern Financial, Defendants.

United States Court of Appeals, Ninth Circuit.

Decided May 18, 1994.

Attorney(s) appearing for the Case

A. Lee Petersen, Law Offices of A. Lee Petersen, Anchorage, AK, for defendant-appellant.

Jean E. Kizer, Bliss Riordan, Anchorage, AK, for plaintiffs-appellees.

Before: GOODWIN, HUG and FERGUSON, Circuit Judges.

Opinion by Judge HUG; Dissent by Judge FERGUSON.

HUG, Circuit Judge:

This appeal concerns the investment by an ERISA-regulated Employee Trust Fund in deed of trust notes secured by real property. The Trust purchased various notes from Northern Financial, a general partnership comprised of Jack Buster and Terry Parks. Appellant Buster challenges the district court's determination that he served as a fiduciary to the Trust, and that he was liable to the Trust...

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