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IN RE ROBERT L. HELMS CONST.

Nos. 95-16781, 95-16788.

110 F.3d 1470 (1997)

In re ROBERT L. HELMS CONSTRUCTION & DEVELOPMENT CO., INC., Debtor. The UNSECURED CREDITORS COMMITTEE of Robert L. Helms Construction & Development Co. in the capacity of a member of the unsecured creditors committee in the case of Robert and Pauline Helms, Appellant, v. SOUTHMARK CORPORATION, Appellee. SOUTH MEADOWS PROPERTIES LIMITED PARTNERSHIP, Appellant, v. SOUTHMARK CORPORATION, Appellee.

United States Court of Appeals, Ninth Circuit.

Decided April 11, 1997.

Attorney(s) appearing for the Case

Jeffrey L. Hartman (argued), Sallie B. Armstrong, Mary Lynn Canmann, Hartman & Armstrong, Ltd., Reno, Nevada, for appellant The Unsecured Creditors Committee.

Alan Pedlar (argued), K. John Shaffer, Stutman, Treister & Glatt, Los Angeles, California, for appellant South Meadows Properties.

Jennifer A. Smith, Lionel, Sawyer & Collins, Robert W. Jones (argued), James R. Prince, Thompson & Knight, for the appellee.

Before: NORRIS and KOZINSKI, Circuit Judges, and WARDLAW, District Judge.

WARDLAW, District Judge.

The question presented by these consolidated appeals from a decision of the Bankruptcy Appellate Panel of the Ninth Circuit ("B.A.P.") is whether an option contract is an executory contract which, under Section 365 of the Bankruptcy Code, may be assumed or rejected by the trustee. In Gill v. Easebe Enters. (In re Easebe Enters.), 900 F.2d 1417 (9th Cir.1990), we held that an option contract is an executory...

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