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MATTER OF REDA, INC.

Bankruptcy No. 84 B 9403.

54 B.R. 871 (1985)

In the Matter of REDA, INC., Debtor.

United States Bankruptcy Court, N.D. Illinois, E.D.

November 18, 1985.

Attorney(s) appearing for the Case

Max Chill, Chicago, Ill., for Alba Sciacqua.

Robert Benjamin, Chicago, Ill., for Reda, Inc.

Christopher Bargione, Chicago, Ill., for Water Tower Trust & Savings Bank.

Ron Lev, Chicago, Ill., for Lazarus-Willis & Associates.

MEMORANDUM OPINION

ROBERT E. GINSBERG, Bankruptcy Judge.

I. The Facts

This case can most easily be understood by beginning with a chronological review of the facts.

In August, 1978, the owner of Agostino's Restaurant in Chicago, Illinois, Ms. Alba Sciacqua, entered into an agreement to sell the restaurant to Frank Reda, the debtor's president.1 On September 15, 1978, Frank

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