Levine v. Cicchinelli (In re Flooring America, Inc.)

ORDER

JOYCE BIHARY, Bankruptcy Judge.

This adversary proceeding is before the Court on cross-motions for summary judgment. Plaintiff Morton P. Levine in his capacity as the Chapter 11 Trustee seeks to recover $100,000.00 plus interest and attorney’s fees from defendant David E. Cicchinelli (“Cicchinelli”) on a demand note dated September 1, 1998. Defendant argues that there was no consideration for the note and that the $100,000.00 he received from the debtor was a bonus, not a loan. Defendant filed a counterclaim for unpaid bonuses and the value of some stock in the debtor which defendant…