IN RE: PEN HOLDINGS, INC., et al., Chapter 11, Debtors

Case No. 302-00979, Jointly AdministeredUnited States Bankruptcy Court, M.D. Tennessee.
December 19, 2003

Craig V. Gabbert, Jr., Barbara D. Holmes, David P. Canas, HARWELL HOWARD HYNE GABBERT MANNER, P.C., TN, for the Debtors

ORDER APPROVING IN PART DEBTORS’ MOTION TO REJECT CERTAIN UNEXPIRED LEASES AND CERTAIN EXECUTORY CONTRACTS PURSUANT TO 11 U.S.C. § 365 AND SETTING HEARING ON REMAINING OBJECTION
KEITH LUNDIN, Bankruptcy Judge

This matter came before the Court for hearing on December 16, 2003 upon the Debtors’ Motion to Reject Certain Unexpired Leases and Certain Executory Contracts Pursuant to 11 U.S.C. § 365 (the “Motion”) filed November 14, 2003 and the Notice thereof dated November 14, 2003, and the objections filed by: 1) Wolverine Resources, Inc., Floyd County Resources, Inc., Bull Creek Coal Corporation, and Turner Elkhorn Mining Company (the “Wolverine Respondents”); 2) Miles Bentley; and 3) Darrell Roberta Stephens. At the hearing, counsel for the Debtors announced that the Debtors had reached an agreement with the Wolverine Respondents to continue the hearing on their objection to the Motion to March 2, 2004. No one appeared at the hearing on behalf of the remaining objecting parties. It appearing to the Court from signature of counsel below that notice was given pursuant to this Court’s local rules and there being no other objections or responses filed except those described herein,

IT IS HEREBY ORDERED that the Motion is granted in all respects, except that the rejection of leases with Wolverine Resources, Inc., Floyd County Resources, Inc., Bull Creek Coal Corporation, and Turner Elkhorn Mining Company is not approved pending a hearing on the Wolverine Respondents’ objection to the Motion;

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IT IS FURTHER ORDERED that the Agreements (as defined in the Motion), except the leases with Wolverine Resources, Inc., Floyd County Resources, Inc., Bull Creek Coal Corporation, and Turner Elkhorn Mining Company, are deemed rejected as of October 1, 2003;

IT IS FURTHER ORDERED that the objections of Miles Bentley and Darrell Roberta Stephens are overruled;

IT IS FURTHER ORDERED that the hearing on the Wolverine Respondents objection to the Motion with respect to the leases with Wolverine Resources, Inc., Floyd County Resources, Inc., Bull Creek Coal Corporation, and Turner Elkhorn Mining Company shall be heard on at 9:00 a.m. on Tuesday, March 2, 2004 in Courtroom Two, Customs House, 701 Broadway, Nashville, Tennessee.

IT IS SO ORDERED.