Birnberg v. Rancho La Costa (In re Reach, McClinton & Co.)

OPINION

LIFLAND, District Judge.

Appellants, the plaintiffs in this adversary proceeding before the bankruptcy court, appeal from the bankruptcy court’s July 27, 1988 order granting appellees-de-fendants’ motion for summary judgment and denying plaintiffs-appellants’ cross-motion for summary judgment. This court has appellate jurisdiction pursuant to 28 U.S.C. § 158(a). For the reasons set forth below, the court reverses the order below and remands to the bankruptcy court for further proceedings.

Background

This adversary proceeding was brought by the trustees of appellants’ respective Chapter 11…