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IN RE PERAMCO INTERNATIONAL, INC.

No. Civ.A. 99-1085-A. Bankruptcy No. 97-13216-MVB. Adversary No. 98-1078.

242 B.R. 313 (2000)

In re PERAMCO INTERNATIONAL, INC., Debtor. Stuart, L.L.C., Appellant, v. First Mount Vernon Industrial Loan Association, Appellee.

United States District Court, E.D. Virginia, Alexandria Division.

January 4, 2000.

Attorney(s) appearing for the Case

Spencer Dean Ault, Johnson, Young & Ault, PC, Leesburg, VA, for Plaintiff.

James M. Towarnicky, Towarnicky & Nissen, Springfield, VA, for Defendant.

MEMORANDUM OPINION

BRINKEMA, District Judge.

Before us is an appeal from the bankruptcy court. The tortured history of this nine year litigation centers on two individual debtors and a corporation. Tom and Tooran Shadmand, the individual debtors, are husband and wife and the sole shareholders of Peramco International, Inc. ("Peramco"). The Shadmands and Peramco, in turn, are the sole shareholders of Shadmand Enterprises, Inc.

In 1986, the...

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