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IN RE AIRLIFT INTERN., INC.

No. 83-5626.

761 F.2d 1503 (1985)

In re AIRLIFT INTERNATIONAL, INC., Debtor, GATX LEASING CORP., Plaintiff-Appellant, v. AIRLIFT INTERNATIONAL, INC., Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

June 4, 1985.

Attorney(s) appearing for the Case

Henry B. Gutman, O'Sullivan Graev Karabell & Gross, New York City, R. Thomas Farrar, Holland & Knight, Miami, Fla., for plaintiff-appellant.

Mershon, Sawyer, Johnston, Dunwody & Cole, Timothy J. Norris, Miami, Fla., for defendant-appellee.

Before HATCHETT and CLARK, Circuit Judges, and STAFFORD, District Judge.

CLARK, Circuit Judge:

The appellant (GATX) appeals from a district court order upholding a bankruptcy court denial of GATX's application for payment of an administrative claim. This case arises out of the sale of a DC-8 aircraft from GATX to the debtor, Airlift International, Inc. (Airlift). The aircraft, which was sold with installed and spare engines, was purchased for $11,596,973.00 of which $9,220,000.00 was to be paid in 120 monthly installments of $130,951.16...

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