IN RE AIR FLORIDA, INC.

Bankruptcy No. 84-01224-BKC-SMW, Adv. No. 84-0515.

44 B.R. 798 (1984)

In re AIR FLORIDA, INC., Debtor. F/S AIRLEASE II, INC., Plaintiff, v. AIR FLORIDA, INC., Greycas, Inc., and Aerothrust Corporation, Defendants.

United States Bankruptcy Court, S.D. Florida.

November 30, 1984.


Attorney(s) appearing for the Case

Pension Benefit Guaranty Corp., Angela J. Arnett, Washington, D.C., for PBGC.

A. Rodger Traynor, Jr., Miami, Fla., for TRT Tel. Corp.

Weil, Gotshal & Manges, P.A., New York City, for N.Y., Airlines, Inc.

Jeffrey H. Beck, Fort Lauderdale, Fla., for Landmark Union Trust Bank.

William R.H. Broome, West Palm Beach, Fla., for American Heart Assoc.

Oster, Suchman & Hankin, P.A. by T. Galfin, Santa Ana, Cal., for Air Cal.

Herman W. Goldner, St. Petersburg, Fla., for All Advert. Assoc.

Lewis R. Cohen, Miami, Fla., for Sally Leasing Co.

Brian S. Dervishi, Miami, Fla., for Aeroports De Paris.

Robert A. Mark, Miami, Fla., for Midway Airlines, Inc.

Anthony F. Walsh, Philadelphia, Pa., for Heleasco Fifteen, Inc.

Alan K. Marcus, Miami, Fla., for Aircontact, Inc.

James H. Rollins, Atlanta, Ga., for Air Atlanta.

Thomas C. Nord, San Francisco, Cal., for GLC Finance Corp.

Solomon B. Zoberman, Fort Lauderdale, Fla., for British Island Airways Ltd.

Seymour J. Ugelow, New York City, for U.S. Aviation Underwriters.

I. Douglas Dunipace, Scottsdale, Ariz., for Collins.

Phillips & Phillips, P.A., Miami, Fla., for Aeronautical Radio, Inc.

Mitchell, Harris, Canning, Murray & Usich, Miami, Fla., for Mobil Oil Corp.

Thomas D. Koch, Dunedin, Fla., for Arke Reizen B.V.

Kilpaatrick & Cody, Washington, D.C., Jack & Anna Tommer, Miller, Nash Wiener, Hager & Carlsen, Portland, Or., for D.I.P.

Jan Douglas Atlas, Fort Lauderdale, Fla., for Trelawny Beach Hotel, Inc.

Harold Weisblatt, New York City, for Chemical Bank.

Howard L. Feinsand, New York City, for 1980 Aircraft Investors.

Paul M. Rashkind, Miami, Fla., for Transamerica Airlines, Inc.

Michael E. Nannes, Washington, D.C., for American Security Bank.

Robert F. O'Malley, Jr., Miami, Fla., for American Express Travel Related.

Hahn & Hessen, P.A., New York City, for American Express.

Sanford L. Bohrer, Miami, Fla., for AT&T Inf., Systems, Inc.

Irving M. Wolff, Miami, Fla., for Gen. Elec. Co.

Manners, Tucker, Carrillo & Damoorg, Miami, Fla., for AFIFAA.

Morgan, Lewis & Bockius, Miami, Fla., for Haven Leasing Corp.

William Knight Zewadski, Tampa, Fla., for GPA Corp.

Michael A. Berman, Washington, D.C., and Mark E. Budnitz, Atlanta, Ga., for SEC.

Robert A. Rosenblatt, Miami, Fla., for Connie Ballinger.

William F. Leonard, Fort Lauderdale, Fla., W. Paul Zampol, Atlanta, Ga., for Delta Air Lines, Inc.

Pedro F. Martell, Coral Gables, Fla., for Viajes Ecuador U.S.A., Inc.

Richard E. Berman, Fort Lauderdale, Fla., for City Nat. Bank of Fla.

Ellis S. Rubin, Miami, Fla., for Nicole M. Moquin, et al.

J. Christopher Kohn, U.S. Dept. of Justice, Washington, D.C., for the United States.

Jerry M. Markowitz, Miami, Fla., Antonow & Fink, P.A., Chicago, Ill., for The Christiana Co., Inc.

Leon C. Marcus, New York City, for Air Fl. Independent Flight.

Marc A. Levinson, Los Angeles, Cal., Joseph F. Healy, Jr., Winston-Salem, N.C., for Piedmont.

Charles J. Jannace, III, New York City, for Maurice Jacques Ltd.

Edwards & Angell, Palm Beach, Fla., for Northeastern Intern. Airways.

Corad W. Sanders, Phoenix, Ariz., for Garrett Corp.

Paul, Landy, Beiley, Harper & Metsch, Miami, Fla., Lawrence Flaster, Fort Lauderdale, Fla., Debra E. Cohen, Miami, Fla., for several creds.

Robert A. Greenspon, Stamford, Conn., Brian Mcloghlin, Stamford, Conn., William Knight Zewadski, Tampa, Fla., for GPA Leasing Corp.

Frank M. Buscaglia, New York City, for Trans World Airlines.

Jay Solowsky, Miami, Fla., for The Prudential Ins. Co.

Lawrence M. Schantz, Miami, Fla., for Interfirst Bank of Dallas.

George H. Tucker, Washington, D.C., Dorian K. Damoorgian, Miami, Fla., for District 146 Intern. Ass'n of Machinists & Aero.

Gregory A. Martin, Miami, Fla., for AFCO Credit Corp.

Robert E. Venney, Miami, Fla., for McDonnell Douglas Corp.

Louis T. Urbanczyk, Washington, D.C., for Dan-Air Services Ltd.

Martin Sandler, Miami, Fla., for Rich Intern. Airways, Inc.

Patterson, Belknap, Webb & Tyler, New York City, for Dow Jones & Co., Inc.

Lewis N. Brown, Miami, Fla., for Executive Nat. Bank.

Patrick S. Scott, Francis L. Carter, Miami, Fla., Michael L. Cook, New York City, for World Airways, Inc.

Don A. Lynn, Miami, Fla., for Southern Bell Tel. & Tel.

Luis M. Artime, Miami, Fla., for Sun Bank of Miami.

Rex B. Guthrie, Miami, Fla., for Aero-Thrust Corp.

Andrew Psalidas, Miami, Fla., Asst. Co. Atty.

Stanton R. Orr, Miami, Fla., for Teamsters Union.

David J. Gzesh, Washington, D.C., for Internat'l Broth. of Teamsters.

John W. Kozyak, Miami, Fla., for Societe Internat'l De Tel.

J. Christopher Kohn, Miami, Fla., for U.S.A., F.A.A.

Jon W. Zeder, Miami, Fla., for The Boeing Co.

Neal D. Colton, Philadelphia, Pa., for Air Canada.

Robert T. Youngs, Coral Gables, Fla., for Coral Gables Fed. Sav.

Michael A. Snyder, Pittsburgh, Pa., for F/S Airlease II, Inc.


FINDINGS OF FACT AND CONCLUSIONS OF LAW IN SUPPORT OF ORDER

SIDNEY M. WEAVER, Bankruptcy Judge.

This is a proceeding in which F/S Airlease II, Inc. ("FSA") seeks to recover possession of an aircraft (including engines) described herein as a lessor exercising its rights under Section 1110 of the Bankruptcy Code, 11 U.S.C. § 1110. Greycas, Inc. ("Greycas"), to the extent described herein, and Swig Investment Company Trust No. 1 ("Swig") have joined in...

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