Dellcar & Co. v. Hicks

MEMORANDUM OPINION AND ORDER

ZAGEL, District Judge.

Dellcar & Co. (“Dellcar”), a North Carolina limited partnership, filed this action to recover amounts due on two promissory notes executed by Ray E. Hicks (“Hicks”). Before the. court is Dellcar’s motion for summary judgment, which for the reasons set forth below is denied.

I.FACTS

In 1986, Treesdale, Inc. (“Treesdale”) owned Continental Bearings Corp. (“Continental”). Charles Carson (“Carson”) owned Treesdale; he was also Dellcar’s general partner. Treesdale, as Continental’s parent corporation, funded Continental’s payroll and operating bank…