National Bank v. Equity Investors

This is a second review by this court on the issue of lien priorities of various parties resulting from the construction of an apartment complex. Our disposition of the first appeal was in National Bank v. Equity Investors, 81 Wn.2d 886, 506 P.2d 20 (1973). We again state the facts for a more complete understanding of the background of the second appeal.

In 1968 a group of four Boeing Company engineers, hereinafter referred to as the “MacDonald group” or “MacDonald,” owned two parcels of land in south Seattle and set in motion a scheme for the construction of a large apartment complex. They…