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IN RE THOMPSON BOAT CO.

Bankruptcy No. 93-20546, Adversary No. 94-2072.

230 B.R. 815 (1995)

In re THOMPSON BOAT CO., Debtor. Randall L. Frank, Trustee, Plaintiff, v. ITT Commercial Finance Corp., Defendant.

United States Bankruptcy Court, E.D. Michigan, Northern Division.

July 11, 1995.

Attorney(s) appearing for the Case

Susan M. Cook, Bay City, MI, for Plaintiff.

Charles M. Tatelbaum, Robert J. Diehl, Jr. and Marc M. Bakst, Detroit, MI, for Defendant.

OPINION REGARDING MOTION TO DISMISS AND CROSS-MOTIONS FOR PARTIAL SUMMARY JUDGMENT

ARTHUR J. SPECTOR, Bankruptcy Judge.

INTRODUCTION

On October 13, 1989, Thompson Boat Co. and ITT Commercial Finance Corp. entered into an agreement entitled "Floor Plan Repurchase Agreement." This agreement specified terms under which ITT would provide financing for dealerships that purchased boats from Thompson. One such term was Thompson's agreement...

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