Park Bank v. Roger E. Westburg

¶ 70. (concurring). I write separately to point out two fundamental principles: (1) the rights and obligations of guarantors are established by the guaranty contract, under which the guarantor and the creditor for whose benefit the guaranty was given operate; and (2) the majority opinion affirms that only a shareholder or beneficial owner has standing to bring a derivative claim under Wisconsin corporate law.1

¶ 71. I agree with the majority opinion that all counterclaims and affirmative defenses raised herein, except one, are derivative and therefore, they cannot be brought in this action.…