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IN RE LANDBANK EQUITY CORP.

No. 85-01541-N, Adv. No. 85-0727-N, Civ. A. No. 86-963-N.

83 B.R. 362 (1987)

In re LANDBANK EQUITY CORPORATION, Debtor. Laurence H. LEVY, Trustee, Plaintiff/Appellee, v. William Robert RUNNELLS, Jr.; Marika Lody Runnells a/k/a Marika Lahti Runnells; John Edward Runnells; Stephen Z. Runnells; Robert D. Runnells; Lucille Runnells; John Edward Properties, Inc., Defendants/Appellants, and Thomas Ebmeier; Kimberly Runnells Ebmeier; Property Buyers, Incorporated; Runnington Investment Corporation; William-Robert & Company a/k/a William Robb & Company; Kimberly & Company; Lody & Company; Mortgage Express, Inc.; Richmond Equity Corporation; Sovran Financial Corporation of Virginia; Statewide Mortgages, Inc.; Prime Financial Corporation; General Mortgage Corporation; Butler, Payne & Griffin; Thalia Meadows Holding Corporation; Property Holding Corporation; Runnington Holding Corporation; Defendants.

United States District Court, E.D. Virginia, Norfolk Division.

June 10, 1987.

Attorney(s) appearing for the Case

Louis N. Joynes, Taylor, Walker & Adams, Norfolk, Va., Frank J. Santoro, Marcus & Santoro, Portsmouth, Va., David H. Adams, Clark & Stant, Virginia Beach, Va., for plaintiff/appellee.

Tom C. Smith, Edward T. Caton and Barry, Randolph Koch, Caton & Koch, P.C., Virginia Beach, Va., for defendants/appellants.

ORDER

CLARKE, District Judge.

This matter comes before the Court on appeal of an Order of the Bankruptcy Court, 66 B.R. 949, awarding the Trustee of Landbank Equity Corporation (Landbank) monetary damages totalling $51,020,243.53 against Marika Lody Runnells, Stephen Z. Runnells, Robert D. Runnells, John Edward Runnells and John Edward Properties, Inc. (Appellants). The present suit is an outgrowth of the bankruptcy proceeding...

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