Sombrero Reef Club, Inc. v. Stackel (In Re Sombrero Reef Club, Inc.)

FINDINGS AND CONCLUSIONS

JOSEPH A. GASSEN, Bankruptcy Judge.

This is an adversary proceeding brought by Sombrero Reef Club, Inc., a debtor-in-possession in this court, as seller, seeking to obtain as liquidated damages the deposit made by defendant purchaser on a contract. The defendant counterclaimed for the return of his deposit. This court concludes that the plaintiff must prevail.

FACTS

In the course of the chapter 11 administration, the plaintiff as debtor-in-possession sought court approval of a contract through which it proposed to sell its assets, a resort marina complex in the Florida…