Marine Bank Southwest N.A. v. Hoffman (In Re Hoffman)

MEMORANDUM AND OPINION

ROBERT E. GINSBURG, Bankruptcy Judge.

This matter is before the Court pursuant to Federal Rule of Civil Procedure 12(b)(6), on Defendant/Debtor’s, (“Hoffman’s), motion to dismiss Marine Bank Southwest’s, (“the Bank’s”), complaint to determine whether the debt owed to it by Hoffman should be excepted from discharge. For the reasons set forth herein, Hoffman’s motion to dismiss is denied.

FACTS

On February 26, 1985 the Bank loaned $89,000 to Streamwood Farms, Inc., (“Streamwood”), payable in full on August 25, 1985. The loan was personally guaranteed by Streamwood’s principal…