SFB Corp. v. Cambridge Automatic, Inc.

Billings, A.J.

This is a suit on a note. It is complicated, if at all, by the fact that the noteholder is a corporation controlled by one George Burnell, who was, at the time the note was executed, the President, CEO, and a director of the defendant. The defendant argues (a) that the Note was merged into a láter-signed Employment Agreement between it and Burnell, and (b) that the plaintiffs claim on the note should be equitably subordinated to the claims of defendant’s other, non-insider creditors.

For the reasons that follow, the plaintiffs motion for summary judgment is ALLOWED.

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