Auto Imports, Inc. v. Verres Financial Corp. (In Re Auto Imports, Inc.)

MEMORANDUM OPINION

JAMES E. YACOS, Bankruptcy Judge.

The Plaintiffs in this action, Albert H Bor-que, a New Hampshire resident; Bourque Association, a New Hampshire limited partnership and Auto Imports, a New Hampshire Corporation each filed a petition for Chapter 11 protection in December, 1992. By order of the Court, the three cases have been jointly administered since February, 1993. The Defendant, Yerres Financial Corporation (hereinafter VCF) filed a proof of claim on February 22, 1993 for a secured claim of $856,073.65.

The Debtors commenced the Adversary Proceeding now before the Court on…