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IN RE THE SECURITIES GROUP 1980

Bankruptcy No. 84-431-BK-J-GP, Adv. No. 85-214.

83 B.R. 826 (1988)

In re THE SECURITIES GROUP 1980, Debtor. Louis LOWIN, Trustee of the Estate of The Securities Group 1980, Plaintiff, v. DAYTON SECURITIES ASSOCIATES, Defendant and Third Party Plaintiff, v. Louis LOWIN, Chapter 11 Trustee of The Securities Groups, Counterclaim Defendant, and Kenneth T. Kaltman, et al., Third Party Defendants.

United States Bankruptcy Court, M.D. Florida, Jacksonville Division.

March 11, 1988.

Attorney(s) appearing for the Case

Stewart E. Bland, Louisville, Ky.

Johathan A. Chandler, Atlanta, Ga.

Richard P. Swanson, New York City.

Glenn E. Rice, New York City.

Philip A. Kantor, Mangone & Schnapp, New York City.

Gruen, Muskin & Thau, New York City.

James J. Gross, Washington, D.C.

David B. Newman, New York City.

Paul R. Hejmanowski, Las Vegas, Nev.

Daniel P. Levitt, New York City.

Birch, Horton, Bittner, Pestinger & Anderson, Washington, D.C.

Philip Tierney, McLean, Va.

Jonathan R. Mook, Alexandria, Va.

John B. Macdonald, Jacksonville, Fla.

Lane & Mittendorf, New York City.

Gregory C. Horn, Los Angeles, Cal.

Guy R. Fairstein, New York City.

Christopher Sanger, Washington, D.C.

George E. Ridge, Jacksonville, Fla.

Robert L. Young, Orlando, Fla.

Stephen L. Black, Cincinnati, Ohio.

Lawrence L. Pedley, Louisville, Ky.

Johathan H. Alden, Tulsa, Okl.

Glenn E. Stern, Monrovia, Cal.

George L. Cass, Pittsburgh, Pa.

David Dunn, New York City.

Norman S. Buckvar, Cleveland, Ohio.

Richard M. Estes, New York City.

John R. Serpico, Brooklyn, N.Y.

William E. Kuntz, Jacksonville, Fla.

Busch, Grafman & VonDreusche, BalaCynwyd, Pa.

Ira Rubin, Goldman, Rubin & Shapiro, Dayton, Ohio.

Finley, Kumble, Wagner, Heine, Underberg & Manley, New York City.

Melinda Holiday, Sutherland, Asbil, Brennan, Atlanta, Ga.

Sheldon Lowe, Botein, Hays & Sklar, New York City.

MEMORANDUM OPINION

GEORGE L. PROCTOR, Bankruptcy Judge.

This adversary proceeding is before the Court on plaintiff's motion for partial summary judgment as to the first cause of action against Dayton Securities Associates on the limited issue of liability for the return of all consideration received by the defendant in connection with the sale of its partnership interests. A hearing on the motion was held February 11, 1988, at the conclusion of which the...

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