Armstrong v. Isbell (In Re Isbell)

ROBERT D. MARTIN, Bankruptcy Judge.

In 1972, a partnership consisting of the defendant Robert C. Isbell (hereinafter “Is-bell”) and Eugene Fanello, purchased a tavern in La Crescent, Minnesota, known as the Crescent Inn, from John and Judith Dickson under a purchase agreement and a contract for deed (hereinafter “the 1972 agreements”). In 1973, the partnership was terminated and Fanello assigned all right, title and interest in the Crescent Inn real and personal property to Isbell who thereupon became sole owner of rights under the 1972 agreements. While owned by Isbell, the Crescent Inn…