Boyle v. National Union Fire Insurance Co.

OPINION

BENCH, Judge:

Plaintiffs appeal from the trial court’s dismissal of their declaratory judgment action. We affirm.

FACTS

In September 1987, plaintiffs filed a complaint in the third district court against V. Stanley Benfell, the estate of Steven F. Christensen, Richard William James, Thomas H. Moore, and J. Gary Sheets (Insureds). 1 Insureds were officers, directors, and partners in Consolidated Financial Services (CFS). Each of the plaintiffs had loaned money to or invested in CFS or one of its subsidiaries. Defendant National Union Fire Insurance Company (National Union) had issued…