Colonial Bank v. Boulder Bankcard Processing, Inc.

Phipps, Judge.

Boulder Bankcard Processing, Inc. (BBP) sued Colonial Bank (Colonial) for breach of an indemnity agreement. Colonial denied liability and filed a third-party complaint against American Security Bank (ASB), contending that if it was liable to BBP, ASB was liable to it under an asset purchase agreement between it and ASB. ASB denied liability, asserting that the asset purchase agreement did not include an assumption of liability for the indemnity agreement. The trial court granted BBP summary judgment against Colonial. It also granted ASB summary judgment against Colonial on the…