Regional Federal Savings Bank v. Margolis

MEMORANDUM OPINION AND ORDER GRANTING DEFENDANTS’ MOTION FOR SUMMARY JUDGMENT

GADOLA, District Judge.

Plaintiff Regional Federal Savings Bank (“Regional”) claims that defendants Harold Margolis, Stephen Hoffman, Isadore Goldbaum, and Louis Goldfaden are personally liable on the entire amount still outstanding on a loan made to defendant Eckles Road Investments (“ERI”) that is now in default. Before the court is the defendants’ motion for summary judgment. For the reasons discussed below, the court will grant defendants’ motion.

I. Background Facts

In April of 1975, the individual defendants filed…