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BICKET v. McLEAN SECURITIES INC.

No. COA99-737.

532 S.E.2d 183 (2000)

Peter M. BICKET, Richard L. Von Tacky, William T. Burgess, R.J. Richardson, Roy C. Hackley, Jr., Coleman Romain, Louis G. Creveling, William E. Gentner, Elmer L. Nicholson, Richard A. Petty, Tom Brooks, and Warren I. Knouff, Plaintiffs, v. McLEAN SECURITIES, INC., Purcell Co., Inc., (formerly Diamondhead Corporation), Pinehurst, Incorporated, Pinehurst Country Club, Inc., Victor Palmieri and Company Incorporated, Howard C. Morgan, Trustee, Steven K. Baker, Trustee, B. Charles Milner, Trustee, Citibank, N.A., Chase Manhattan Bank, N.A., the First National Bank of Chicago, First Pennsylvania Bank, N.A., First National State Bank, N.A., Crocker National Bank, and Wachovia Bank and Trust Company, N.A., Defendants.

Court of Appeals of North Carolina.

June 20, 2000.

Attorney(s) appearing for the Case

Kitchin, Neal, Webb, Webb & Futrell, P.A., by Henry L. Kitchin and Stephan R. Futrell, Rockingham, for plaintiff-appellees/appellants.

Van Camp, Hayes & Meacham, P.A., by James R. Van Camp and Michael J. Newman, Pinehurst, Brown, McCarroll & Oaks Hartline, by Jackson D. Wilson II, Dallas, TX, and Smith, Helms, Mullis & Moore, L.L.P., by James G. Exum, Jr., Greensboro, for defendant-appellant/appellee Pinehurst, Inc.

EDMUNDS, Judge.

This case is the continuation of a longrunning dispute between members of Pinehurst Country Club and various owners of the club. In the late 1970s, Diamondhead Corporation (Diamondhead) purchased Pinehurst, Incorporated, which owned all of the public properties in the Village of Pinehurst, large undeveloped acreages, golf courses, and other recreational facilities. As a result of its purchase of Pinehurst, Incorporated, Diamondhead came into ownership...

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