Saltzman v. Noroton Heights Enterprises Corp. (In Re Noroton Heights Enterprises Corp.)

MEMORANDUM AND ORDER

ALAN H.W. SHIFF, Bankruptcy Judge.

The defendant moves to dismiss the complaints in these adversary proceedings for failure to state claims upon which relief can be granted or, in the alternative, for more definite statements. For the reasons that follow, the motions are denied.

BACKGROUND

The plaintiffs are former shareholders of the defendant who filed proofs of claim in connection with debts arising out of stock repurchase agreements. Under the agreements, the defendant gave the plaintiffs a series of promissory notes, secured by all of its personal property, in…