Breach of Contract
Promissory Fraud
Alter Ego
Confidential
Settlement – $300,000Judge
Court
USDC Central
Attorneys
Plaintiff
Defendant
Facts
Plaintiff investor loaned $300,000 to Defendant and Defendant's corporation in 1990 and 1991. Defendant defaulted on the terms of the repayment and Plaintiff sued Defendant in Los Angeles Superior Court. Defendant contested the lawsuit and filed Cross-complaints. Defendant and his spouse eventually filed a petition for Chapter 7 in the U.S. Federal Bankruptcy Court and attempted to discharge the debt owed to Plaintiff. Plaintiff then sued Defendant in U.S. Bankruptcy Court for fraud and alter ego liability.
Settlement Discussions
Offers and demands, exchanged prior to this settlement, were not disclosed.
Damages
$300,000 plus interest.
#116674
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