DocketNumber: No. CV92 0123805 S
Citation Numbers: 1992 Conn. Super. Ct. 6789
Judges: RUSH, JUDGE
Filed Date: 7/20/1992
Status: Non-Precedential
Modified Date: 4/18/2021
The defendant seeks a summary judgment asserting that the subsequent indebtedness constitutes Senior Indebtedness under the notes sued upon and therefore, there are no sums now due and payable. While stated as an affirmation of fact, the affidavits filed by the defendant merely re-state the definition of Senior Indebtedness and are, in fact, conclusions which are insufficient to support the granting of a summary judgment.
The plaintiff asserts that because of the timing and the parties involved, the subsequent indebtedness was incurred because of a need for working capital and not in connection with the acquisition of the assets. The plaintiff claims that the subsequent indebtedness is not Senior Indebtedness and therefore the plaintiff is entitled to accelerate the sums due on the notes sued upon and is entitled to summary judgment. However, the factual basis upon which the plaintiff's assertions are based are sufficient to warrant the granting of a summary judgment.
Accordingly, the determination of whether the subsequent indebtedness incurred by the defendant constitutes or does not constitute Senior Indebtedness must await further factual development. Accordingly, both Motions for Summary Judgment are denied. CT Page 6790
RUSH, J.