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SIMMS v. BIONDO

No. 90-CV-3184 (JRB).

816 F.Supp. 814 (1993)

Gene SIMMS, Simms-Vona Limited Partnership, Carlo Vona, Plaintiffs, v. George BIONDO, Perry Duryea, Jr., David Webb, Thomas Carusona, Toni Dileo, Eastern Federal Savings and Loan Association, Resolution Trust Corporation as Receiver of Eastern Federal Savings and Loan Association, James Donelan, Defendants, The Connecticut National Bank, Additional Counterclaim Defendant.

United States District Court, E.D. New York.

February 26, 1993.

Attorney(s) appearing for the Case

James J. Farrell, Norwalk, CT, for plaintiffs.

Berger, Steingut, Tarnoff & Stern, New York City (Charles S. Webb III, Allison Walsh, of counsel), for defendants George Biondo, Perry Duryea, Jr., and David Webb.

Rivkin, Radler & Kremer, Uniondale, NY (Michael C. Marsh, of counsel), for defendant Resolution Trust Corp.

MEMORANDUM-DECISION AND ORDER

BARTELS, District Judge.

I. BACKGROUND

On September 16, 1987, plaintiffs Gene Simms, Carlo Vona and Simms-Vona Partnership ("Buyers") entered into a contract of sale ("Contract of Sale") to purchase 42.5 acres of land in Shelter Island, New York ("Overlook I"), for $3.1 million from defendants George Biondo, Perry Duryea, Jr., and David Webb ("Sellers"). Shelter Island lies in Gardiner's Bay between the north and south...

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