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OLINDE v. 400 GROUP

No. 95 CA 1233.

686 So.2d 883 (1996)

H.T. OLINDE, Jr., Meredith H. Lieux, Eugene Roy, Raymond Long, James E. Kissner, Esper Marionneaux, Jr., Greg Roy, J.B. Olinde, Levy Dabadie, Jr., Harold E. Morris, Craig A. Major, for Themselves and on Behalf of All Other Shareholders of Great Guaranty Bancshares, Inc. v. The 400 GROUP, an Unincorporated Association, and Great Guaranty Bancshares, Inc.

Court of Appeal of Louisiana, First Circuit.

Rehearing Denied February 7, 1997.

Attorney(s) appearing for the Case

Bob D. Tucker, Wendell H. Holmes, Baton Rouge, LA, for Appellants, Great Guaranty Bancshares and Guaranty Bank and Trust, as successor to H.T. Olinde, et al.

Michael T. Perry, Baton Rouge, LA, for Appellee, The 400 Group.

Before SHORTESS, LeBLANC, PARRO and KUHN, JJ., and THOMAS W. TANNER, Judge Pro Tem.

SHORTESS, Judge.

This is a declaratory judgment action initially filed as a derivative action by certain shareholders of Great Guaranty Bancshares, Inc. (Bancshares), a one-bank holding company. Bancshares' one asset is 100% of the stock of Guaranty Bank & Trust Company (Guaranty), in New Roads, Louisiana.2 In 1982, Bancshares borrowed $1.5 million from Capital Bank & Trust (Capital Bank) and injected it into Guaranty. In December...

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