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In Re Mike Glickman Realty, Inc., Debtor. Donald W. Henry, Chapter 7 Trustee for Mike Glickman Realty, Inc. v. Andocs I Orange County Emergency Clinic, Inc. Melvin L. Gerstner Deena M. Gerstner Andocs III David I. Tannenbaum Richard S. Glassberg Lyle D. Price Rosalinda E. Fernandez United States Trustee
Citations: 59 F.3d 175; 1995 U.S. App. LEXIS 23550; 1995 WL 387894Docket: 92-55331
Court: Court of Appeals for the Ninth Circuit; June 29, 1995; Federal Appellate Court
The Ninth Circuit Court of Appeals affirmed a bankruptcy appellate panel's grant of summary judgment in favor of ANDOCS I regarding the bankruptcy case of Mike Glickman Realty, Inc. The central issue was Glickman's failure to secure a buyer willing to purchase property for $1.5 million, as stipulated in the original listing agreement. Instead, ANDOCS, through representative Les Malo, indicated willingness to accept a $1.2 million offer provided the brokerage commission was reduced to 4% and payable only upon the closing of escrow. Glickman did not fulfill this oral condition, and the property remained unsold. The court concurred with the bankruptcy panel that Glickman's non-performance constituted a failure under either a modification of the original listing agreement or a new promise requiring new consideration. The ruling is not designated for publication and cannot be cited except under specific conditions outlined in Ninth Circuit Rule 36-3.