Carpenter v. Williams

BROWN, District Judge.

These appeals arise out of a bankruptcy proceeding involving two debtors, Laura L. Carpenter and Laura Carpenter Fine Art, Inc. (“LCFA”). Carpenter, through LCFA, owned and operated an art gallery in Sante Fe, -New Mexico. In 1991, she met Ginny Williams, a wealthy Denver art dealer and collector. In 1992, Carpenter approached Williams about obtaining financing for the LCFA gallery. Over the next two-and-a-half years, Williams and Carpenter became close friends, and Williams advanced large sums of money to Carpenter and LCFA. In 1994, the friendship deteriorated, and the…