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IN RE SAPOLIN PAINTS, INC.

Bankruptcy Nos. 180-01691-21, 180-01807-21.

5 B.R. 412 (1980)

In re SAPOLIN PAINTS, INC., Woolsey Marine Industries, Inc., Debtors.

United States Bankruptcy Court, E.D. New York.

August 6, 1980.

Attorney(s) appearing for the Case

Robert L. Howard, New York City, for landlord.

Stroock & Stroock & Lavan, New York City, for debtor.

Kaye, Scholer, Fierman, Hays & Handler, New York City, for Chemical Bank.

Weil, Gotshal & Manges, New York City, for Universal Paint Corp.

Marcus & Angel, New York City, Co-Attys., for Creditors' Committee.

Ballon, Stoll & Itzler, Spengler, Carlson, Gubar & Brodsky, New York City, for United Capitol Corp.

Davis, Polk & Wardwell, New York City, for Woolsey Creditors' Committee.

OPINION

CECELIA H. GOETZ, Bankruptcy Judge:

Sapolin Paints, Inc. ("Sapolin") and Woolsey Marine Industries, Inc. ("Woolsey"), debtors and debtors-in-possession, jointly applied for an order pursuant to § 365 of the Bankruptcy Code (11 U.S.C. § 365), authorizing the assumption and assignment of six leases. Arthur Gilbert, the owner of a building at 2750 South Garfield Avenue, Los Angeles, California, which...

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