OPINION AND ORDER
EDELSTEIN, District Judge.
This civil action was commenced in Supreme Court of the State of New York to recover damages for breach of certain contracts between the defendant, Ronald Frum ("Frum"), and Elms Capital Management, Inc. ("ECM") and Elms Government Securities ("EGS"). The plaintiff, Roy Babitt, is the assignee for the benefit of creditors of ECM and EGS. Plaintiff seeks to recover $83,089.23 plus interest for losses allegedly...
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