Cataldo v. Continental Insurance Co. (In re Data Concepts International, Inc.)

MEMORANDUM

JAMES N. GABRIEL, Chief Judge.

The matter before the Court is the adversary complaint filed, on November 30, 1984, by the Trustee of Data Concepts, Incorporated (“DCI” or the “Debtor”) against The Continental Insurance Company (“Continental” or the “defendant”). Through his two count complaint, the Trustee seeks to recover $551,676. The Trustee’s claim is based upon an agreement entered into by DCI and Continental on September 9, 1983 and referred to as the Letter of Intent. Continental denies that it owes the Debtor monies pursuant to the Letter of Intent or in quantum meruit. This…