Ritter v. Smith (In re Smith)

*795 ORDER GRANTING IN PART DEFENDANTS’ MOTION FOR SUMMARY JUDGMENT AND DENYING PLAINTIFF’S CROSS MOTION FOR PARTIAL SUMMARY JUDGMENT

MARK A. RANDON, Bankruptcy Judge.

I. INTRODUCTION

In hindsight, Austin Ritter’s decision to invest $50,000.00 in Anthony and Dorothy Smith’s (“Defendants”) commercial cleaning company was a bad one: less than one year later, he sold his interest for just $5,000.00. Ritter sued Defendants in Oakland County Circuit Court for misrepresentation and silent fraud, negligent and innocent misrepresentation, breach of contract, and minority shareholder oppression to recover…