LDA Acquisition, LLC v. Flag Wharf, Inc. (Competrol Acquisition Partnership, L.P.)

MEMORANDUM OPINION

PETER J. WALSH, Bankruptcy Judge.

This is the Court’s ruling on Flag Wharf Inc.’s (“Defendant”) motion to dismiss Count IV of LDA Acquisition, LLC (“LDA”) and Martin Oliner’s (“Oliner” and together with LDA, “Plaintiffs”) Complaint for failure to state a claim upon which relief can be granted, and to dismiss the remaining three Counts of the Complaint for lack of subject matter jurisdiction. For the reasons set forth below, Defendant’s motion will be granted.

FACTS

In 1991, Charleston Holdings, Inc. (“CHI”) and Building 197 Loan Acquisition Corporation (“197 Acquisition”),…