Madsen v. Borthick

STEWART, Justice:

Plaintiffs, depositors of the now defunct Grove Finance Company, sued Mirvin Borthick and W. Smoot Brimhall, former Commissioners of the Utah Department of Financial Institutions, in their personal capacities for gross negligence in carrying out their statutory duties in regulating and monitoring Grove Finance. The trial court entered summary judgment in favor of the Commissioners and dismissed plaintiffs’ claims. We affirm.

This case comes before us on appeal for a third time. The protracted nature of this case calls for a review of the facts and procedural history leading up…