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IN RE C & C TV & APPLIANCE, INC.

Bankruptcy No. 88-14430S.

97 B.R. 782 (1989)

In re C & C TV & APPLIANCE, INC., Debtor.

United States Bankruptcy Court, E.D. Pennsylvania.

As Amended March 27, 1989.

Attorney(s) appearing for the Case

Alan R. Gordon, Robert S. Blau, Saul, Ewing, Remick & Saul, Philadelphia, Pa., for Landlord.

Lawrence J. Lichtenstein, Mesirov, Gelman, Jaffe, Cramer & Jamieson, Philadelphia, Pa., for Transamerica.

James J. O'Connell, Philadelphia, Pa., Asst. U.S. Trustee.

Rosetta B. Packer, Klehr, Harrison, Harvey, Branzburg, Ellers & Weir, Philadelphia, Pa., for Fidelity Nat. Bank Ass'n.

Gary M. Schildhorn, Adelman, Lavine, Gold & Levin, Philadelphia, Pa., for debtor.

James W. Adelman, Morris & Adelman, Philadelphia, Pa., for Caloric Corp., Whirlpool Acceptance Pierce Phelps Corp.

Marvin Krasny, Wolf, Block Schorr & Solis-Cohen, Philadelphia, Pa., for Creditors' Committee.

David C. Schattenstein, Perkin, Rapport, Schattenstein & Feldman, Allentown, Pa., for ITT Commercial Financial Corp.

OPINION

DAVID A. SCHOLL, Bankruptcy Judge.

The instant dispute between the Debtor and its landlord pursuant to a lease containing a purchase option, tests the power of the landlord to unilaterally terminate the parties' contract on the basis of a forfeiture clause. Since we believe that such a clause must be construed narrowly, we hold that, in several respects, the landlord has failed to establish that it met the prerequisites for termination of the lease...

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