Central Investors Real Estate Corp. v. Powell (In Re Powell)

MEMORANDUM OPINION

C.E. LUCKEY, Bankruptcy Judge.

Plaintiff seeks determination that an obligation asserted against defendant is excepted from discharge and is nondischargeable under 11 United States Code § 523(a)(4).

Plaintiff through its principal and president, Donald Quinn, entered into a written agreement with the defendant, sole proprietor of a company engaged in the sale of hot tubs, under the terms of which agreement plaintiff agreed to purchase at a discount contract balances due on sales contracts entered into by defendant with defendant’s customers. Plaintiff was to pay 90% of the…