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IN RE RICKEL & ASSOCIATES, INC.

Bankruptcy No. 98 B 47203(SMB). Adversary No. 01-2441.

272 B.R. 74 (2002)

In re RICKEL & ASSOCIATES, INC., Debtor. Rickel & Associates, Inc., Robert Rickel, and Marvin Numeroff, Plaintiffs, v. Gregg Smith, Elliot Smith, and Wireless Acquisition Partners, LLC, Defendants.

United States Bankruptcy Court, S.D. New York.

January 28, 2002.

Attorney(s) appearing for the Case

Kelley, Drye & Warren LLP, James S. Carr, Mark Gregory, Mark R. Somerstein, Of Counsel, New York City, for Plaintiffs.

Olshan, Grundman, Frome, Rosenzweig & Wolosky LLP, Thomas J. Fleming, Andrew I. Silfen, Of Counsel, New York City, for Gregg Smith and Wireless Acquisition Partners, LLC.

Gibbons, Del Deo, Dolan, Griffinger & Vecchione, Dale E. Barney, Of Counsel, New York City, Wechsler, Bursky & Cohen LLP, Robert M. Bursky, Of Counsel, New York City, Co-Counsel to Elliot J. Smith.

MEMORANDUM DECISION DENYING DEFENDANTS' MOTIONS FOR SUMMARY JUDGMENT AND GRANTING IN PART AND DENYING IN PART DEFENDANTS' MOTIONS TO DISMISS THE COMPLAINT

STUART M. BERNSTEIN, Chief Judge.

It is rare for a seller to claim that his buyer defrauded him into selling his own property at an unreasonably low price. Yet this is such a case. The plaintiffs1 charge, in the main, that...

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