Falzone v. Gatta (In re Falzone)

MEMORANDUM OPINION

JAMES E. YACOS, Bankruptcy Judge.

This adversary proceeding is an attempt by the plaintiff-debtor to nullify certain notes and mortgages involved in a transaction by which he acquired in August of 1984, a restaurant operation known as “Pri-mo’s Restaurant” formerly owned by the defendants. The plaintiff operated the restaurant from September 1, 1984 to August 15, 1985. He ultimately filed his chapter 13 petition in this court on April 9, 1986.

The nub of the dispute is the plaintiff’s contention that he was induced into buying the restaurant for a purchase price of $140,000 on…