Tamen
Tamen v. Alhambra World Investment, Inc. (In re Tamen)
Opinion
Lead Opinion
Sneed, J.
Opinion by Judge SNEED.
OPINION
This case stems from agreements for the sale and subsequent development of real property. The seller claims that the buyer breached the agreements by reselling the property prior to development. The bank- *202 raptey court found the buyer, and several related defendants, liable under various contract and tort theories. The Bankruptcy Appellate Panel (BAP) affirmed. We also affirm.
I.
FACTS AND PROCEEDINGS BELOW
Plaintiff E. Jerome Tamen was the general partner in two California limited partnerships, University Estates, Ltd., and Yucaipa Estates, Ltd. ■ Each limited partnership owned property in the Yucaipa Valley in San Bernardino County, California. In 1985, Ta-men and his wife entered Chapter 11 reorganization proceedings.
Facing the prospect of foreclosure, Tamen discussed the possible development of the Yucaipa Valley properties with Daniel Chu, president and sole director of Alhambra World Investments, Inc. (Alhambra). On October 22, 1986, Tamen’s two partnerships agreed to sell the properties to Alhambra for the amounts in default on the properties’ debts. Alhambra agreed not to assign its interest in the sale agreements except under…