In re PMF Enterprises, Inc. (10-50309)

The Chapter 7 debtor contended that the creditor-bank’s claim had been settled, satisfied and discharged pursuant to a compromise and release agreement entered into by the bank and an insurance company.  The court disagreed and held that the settlement agreement did not release the bank’s claim against the debtor, and that neither accord and satisfaction, judicial estoppel, promissory estoppel nor dismissal with prejudice barred the banks’ claim against the debtor.

Monday, July 28, 2014