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IN RE ASLAN

Bankruptcy No. LA 86-03637-GM.

65 B.R. 826 (1986)

In re Moses N. ASLAN, Debtor.

United States Bankruptcy Court, C.D. California.

September 5, 1986.

Attorney(s) appearing for the Case

Martin J. Brill, Leslie A. Cohen, Robinson, Wolas & Diamant, Los Angeles, Cal., for debtor.

Steven P. Tapia, Loeb & Loeb, Los Angeles, Cal., for creditor, Sycamore.

Jay S. Bulmash, Seal Beach, Cal., for creditor, Amana Corp., assignee of American Development.

Steven Snipper, Arak, Welter, Snipper & Greene, Los Angeles, Cal., as special counsel.

Edythe Bronston, Cox, Castle & Nicholson, Los Angeles, Cal., for creditor Siavoush Safaie-Kia.

Peter Bronson, Levy & Norminton, Los Angeles, Cal., for Hongkong & Shanghai Banking Corp.

Roy Zuckerman, McKay & Zuckerman, Long Beach, Cal., for creditor Cent. Bank.

Barbara Dohrmann, Los Angeles, Cal., for creditors Jane C. Williams and Westwood Center Corp.

Patrick Smith, Los Angeles, Cal., for U.S. trustee.

MEMORANDUM OF OPINION RE MOTION TO REJECT EXECUTORY CONTRACT

GERALDINE MUND, Bankruptcy Judge.

On or about April 13, 1982, Moses Aslan and Sycamore Investment Company ("Sycamore") entered into a real estate purchase contract whereby Sycamore agreed to purchase the "Broadway Spring Arcade Buildings" (the "Arcade"). This agreement was amended a few days later to, among other things, increase the purchase price to $4,500,000.00.

The agreement between...

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