In Re Donald Ross Bangerter, Debtor. Peter C. Roots, Individually and as Trustee for the Peter C. Roots Trust v. Donald Ross Bangerter

968 F.2d 1220 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. In re Donald Ross BANGERTER, Debtor. Peter C. ROOTS, individually and as Trustee for the Peter C. Roots Trust, Appellant, v. Donald Ross BANGERTER, Appellee. No. 91-55619. United States Court of Appeals, Ninth Circuit. Submitted July 7, 1992. * Decided July 21, 1992. Before FARRIS, WIGGINS and FERNANDEZ, Circuit Judges. 1 MEMORANDUM ** 2 Peter Roots appeals the Bankruptcy Appellate Panel's denial of his claim brought under 11 U.S.C. § 523 (a)(4) of the Bankruptcy Code. He asserts that a majority shareholder in a close corporation has a fiduciary relationship to a minority shareholder within the meaning of § 523(a)(4). We affirm. 3 Roots argues that Donald Ross Bangerter's acceptance of the forty thousand dollars from Dataload Inc., constituted a violation of Bangerter's fiduciary duty to Roots. Debts which arise from "fraud or defalcation while [the debtor was] acting in a fiduciary capacity" are…