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IN RE RICKETTS

Bankruptcy No. 285-04985-D-7, BAP No. EC-86-1681 VMoJ.

80 B.R. 495 (1987)

In re Roger Bert RICKETTS and Nancy Ricketts, Debtors. John M. OSBORN, an individual, Appellant, v. Roger Bert RICKETTS and Nancy Ricketts, Appellees.

United States Bankruptcy Appellate Panels of the Ninth Circuit.

Decided August 18, 1987.

Concurring Opinion October 5, 1987.

Attorney(s) appearing for the Case

Mary E. Olden, McDonough, Holland & Allen, Sacramento, Cal., for appellant.

Martin B. Brifman, Sacramento, Cal., for appellees.

Before VOLINN, MOOREMAN and JONES, Bankruptcy Judges.

OPINION

VOLINN, Bankruptcy Judge.

I.

Roger Ricketts, the debtor, worked for a brokerage house. John Osborn, the appellant, was a personal friend and business acquaintance of the Ricketts. Over a period of years, beginning in 1979, Osborn placed over $200,000 in funds and assets with Ricketts for the purpose of investment. While some portion of these funds was eventually returned to Osborn, by 1985 he realized that return on his investments had...

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