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IN RE WOLFSON

No. 94-2814.

56 F.3d 52 (1995)

In re Stephen P. WOLFSON, Debtor. Stephen P. WOLFSON, Plaintiff-Appellant, v. EQUINE CAPITAL CORPORATION, a Delaware Corporation, Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

June 27, 1995.

Attorney(s) appearing for the Case

James H. Post, Smith, Hulsey & Bussey, Jacksonville, FL, for appellant.

Bryce W. Akerman, Simmons & Gray, John B. Fuller, Hart, Fuller & Smith, Timothy D. Haines, Ocala, FL, for appellee.

Before CARNES and BARKETT, Circuit Judges, and GIBSON, Senior Circuit Judge.

BARKETT, Circuit Judge:

Appellant Stephen P. Wolfson ("Wolfson") appeals from a district court judgment affirming a bankruptcy court's decision excepting $1,815,805 of Wolfson's debt from discharge. Because we conclude that the debt was excepted in error, we reverse.

From 1971 to 1990, Wolfson and his brother, Gary, were partners in a horse farm known as the Happy Valley Farm (the "Farm"). In 1987, Equine Capital Corporation ("ECC") replaced Citibank, N.A...

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