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MARRERO v. BANCO di ROMA (CHICAGO)

Civ. A. No. 79-2344.

487 F.Supp. 568 (1980)

Louis H. MARRERO, IV v. BANCO di ROMA (CHICAGO).

United States District Court, E. D. Louisiana.

April 8, 1980.

Attorney(s) appearing for the Case

Arthur A. Lemann, III, New Orleans, La., David P. Seikel, Houston, Tex., for plaintiff.

George W. Pigman, James P. Farwell, Chaffe, McCall, Phillips, Toler & Sarpy, New Orleans, La., for defendant.

SEAR, District Judge.

In April, 1976 Wilson P. Abraham sold plaintiff Louis H. Marrero IV 305,306 shares of stock in the International City Bank (ICB). The total purchase price was $3,511,019, of which Marrero paid $750,000 in cash. For the balance he executed a personal promissory note to Abraham for $861,109 and assumed Abraham's existing $1.9 million debt with defendant Banco di Roma — Chicago (Banco). Abraham...

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