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| | Buehner v. Hoeven, 228 N.W.2d 893 (N.D. 1975) |
 | | On August 16, 1971, Hoeven wrote to each of the debenture holders stating, in effect, that the board of directors had decided to retire the debentures due on September 1, 1971, by cash payment. |
 | | Although Thompson was not a party to the action, his transactions and relationship with Hoeven, the board of directors, and First Western became material to Buehner's efforts to prove a fraudulent motive on the part of Hoeven and First Western. |
 | | On the other hand, defendants Hoeven and First Western claimed that their motive was in the interest of all stockholders--to prevent the dilution of all stockholders' interests, to comply with directives of the supervisory authorities (the FDIC and the Commissioner), and to retain the confidence of the customers of the bank. |
| www.court.state.nd.us /court/opinions/9063.htm (3942 words) |
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