TL Administration Corp. v. Ideasphere, Inc. (In Re TL Administration Corp.)

MEMORANDUM OF DECISION AND ORDER ON CROSS-MOTIONS FOR SUMMARY JUDGMENT

ROBERT D. DRAIN, Bankruptcy Judge.

The parties to this adversary proceeding filed for summary judgment under Fed. R.Civ.P. 56(a) and (b), respectively, as incorporated by Fed. R. Bank. P. 7056. They dispute the interpretation of the Asset Purchase Agreement dated as of September 4, 2003 (the “APA”) pursuant to which defendants Ideasphere, Inc. and TL Acquisition Corp. (together, the “Defendants” or the “Purchasers”) acquired substantially all of the assets of the above-captioned debtors and debtors in possession (the…