Becker v. North's Restaurants, Inc.

This is a breach of contract action involving a convertible subordinated debenture agreement. On cross-motions for summary judgment, the trial court ruled in plaintiffs 1 favor, concluding that defendant’s default on scheduled interest payments breached the terms of the debenture agreement. The trial court also determined that, although entitled to judgment, plaintiff is not entitled to payment (i.e., to enforce the judgment) until the senior creditors are paid in full. By way of supplemental judgment, the trial court also awarded attorney fees to plaintiff. On appeal, defendant assigns error…