Jointly Administered Under Case No. 02-08915United States Bankruptcy Court, M.D. Tennessee
September 16, 2003
Frank J. Wright, HANCE SCARBOROUGH WRIGHT GINSBERG BRUSILOW, LLP, Dallas, Texas for Debtors.
C. Ashley Ellis, HANCE SCARBOROUGH WRIGHT GINSBERG BRUSILOW, LLP, Dallas, Texas for Debtors.
Robert T. DeMarco, HANCE SCARBOROUGH WRIGHT GINSBERG BRUSILOW, LLP, Dallas, Texas for Debtors.
Robert J. Mendes, MENDES GONZALES, P LLC, Nashville, Tennessee, FOR DEBTORS.
William L. Norton, III, BOULT, CUMMINGS, CONNERS BERRY, Nashville, Tennessee, FOR THE LESSOR.
AGREED ORDER AUTHORIZING THE DEBTORS TO REJECT UNEXPIRED EQUIPMENT LEASES WITH GE CAPITAL
GEORGE PAINE, Chief Judge, Bankruptcy
This matter is before the Court on the Motion for an Order Authorizing the Debtors to Reject Unexpired Equipment Leases (the “Leases”) with GE Capital (the “Motion”). Upon consideration of the Motion, the Court finds that: (1) notice of the Motion was proper and adequate, and that no other or further notice is necessary except as ordered herein; (2) the Debtors and GE Capital (the “Lessor”) have agreed to the relief requested in the Motion; and (3) the relief requested in the Motion is in the best interest of the Debtors, their estates and all interested parties.
IT IS THEREFORE ORDERED THAT:
1. The Motion is granted subject only to timely objections.
2. The Debtors, having exercised their sound business judgment in determining that the Leases described in the Motion are no longer necessary for reorganization of their business operations and there being no value in the Leases for assumption and assignment thereof, are hereby authorized to reject the Leases.
3. The Leases are hereby rejected as of the date that this Order becomes a final order subject to the terms described in the Motion. All other relief requested in the Motion is hereby granted.
IT IS SO ORDERED.
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