No. 02-4-0303, Chapter 7, Involuntary PetitionUnited States Bankruptcy Court, D. Minnesota, Fourth Division
February 1, 2002
ORDER GRANTING MOTION PURSUANT TO 11 U.S.C. § 362 LIFTING THE AUTOMATIC STAY TO PERMIT GENERAL ELECTRIC CAPITAL CORPORATION TO TAKE POSSESSION OF ONE BOEING 727-225 ADVANCED AIRCRAFT BEARING MANUFACTURER’S SERIAL NUMBER 22558 AND UNITED STATES FEDERAL REGISTRATION MARKING N282SC TOGETHER WITH THREE PRATT WHITNEY JT8D-17R ENGINES WITH SERIAL NUMBERS 707263, 700818 AND 700812 (ALL COLLECTIVELY REFERRED TO AS THE “AIRCRAFT”)
Nancy C. Dreher, United States Bankruptcy Judge
Upon the motion of General Electric Capital Corporation (“GECC”) in the above-captioned Chapter 7 case, pursuant to 11 U.S.C. § 362 (d), for an order granting relief from the automatic stay; and no previous application having been made; and upon consideration of the Motion; and due and proper notice of the Motion having been given; and the Debtor having consented to the relief sought in the Motion; and it appearing that the Debtor has no equity in the Aircraft and that continued possession of the Aircraft by the Debtor would be a burden upon the estate; and after due deliberation, the Court
ORDERS, ADJUDGES and DECREES that;
1. GECC’s request for expedited relief is approved, and the Motion is hereby granted;
2. The Debtor is authorized and directed forthwith to deliver possession of the Aircraft (minus the Engine with serial No. 700812 that is not in the Debtor’s possession) to GECC at the Debtor’s facility at the Minneapolis/St. Paul Airport in Minnesota, together with all technical and other records relating to the Aircraft;
3. GECC is authorized to accept such delivery of the Aircraft, and to remove the Aircraft from the Minneapolis/St. Paul Airport facility, and to execute and deliver to the Debtor a Certificate of Inspection and Acceptance in the form of Exhibit “E” to the Affidavit of John Davis; (ii) the Debtor and GECC are authorized to execute and deliver nunc pro tunc as of January 8, 2002, the Lease Termination Agreement in the form attached to the Affidavit of John Davis as Exhibit “D”; and (iii) GECC is authorized to file the Lease Termination Agreement with the civil aircraft registry of the FAA in Oklahoma City;
4. GECC and the Debtor are authorized to take such action and execute and deliver such additional documents as may reasonably be required or that shall be convenient to conclude the termination of the Lease and return of the Aircraft; and
5. The automatic stay of 11 U.S.C. § 362 (a) is modified to the extent necessary for the Debtor and GECC to complete the return of the Aircraft and the termination of the Lease as aforesaid.
STATE OF MINNESOTA SS. COUNTY OF HENNEPIN
I, Karen Krouch, hereby certify: That I am a Deputy Clerk in the Office of the United States Bankruptcy Court for the Fourth Division of the District of Minnesota, at Minneapolis, Minnesota; That on February 1, 2002, true and correct copies of the annexed:
ORDER 02-40303
were placed by me in individual franked official envelopes, that said envelopes were addressed individually to each of the persons, corporations, and firms at their last known addresses appearing hereinafter; that said envelopes were sealed and on the day aforesaid were placed in the United States mails at Minneapolis, Minnesota, to:
BARBARA STUART U.S. TRUSTEE MINNEAPOLIS, MN
JOHN R MCDONALD ESQ ROBINS KAPLAN MILLER CIRESI MPLS MN
MARK O ANDERSON ESQ WAGNER FALCONER JUDD LTD. MPLS MN
RICARDO PALACIO ESQ ASHBY GEDDES PA WILMINGTON DE
STEVEN W MEYER ESQ OPPENHEIIMER WOLFF AND DONNELLY MPLS MN
RICHARD BERESFORD ESQ BERESFORD BOOTH DEMARAY TINGSTAD PLLC EDMONDS WA
BRIAN SIROWER ESQ QUARLES BRADY STREICH LANG LLP PHOENIX AZ
BETH SOLOMON ESQ DISCOVER FINANCIAL SERVICES INC RIVERWOODS IL
STEPHEN STAPLETON ESQ COWLES THOMPSON PC DALLAS TX
WILLIAM HAZELTINE ESQ POTTER ANDERSON CORROON LLP WILMINGTON DE
and this certificate was made by me.
___________________________ Karen Krouch, Deputy Clerk