IN RE TS INDUSTRIES, INC.

Bankruptcy Nos. 89C-04919 to 89C-04921.

117 B.R. 682 (1990)

In re TS INDUSTRIES, INC., a Nevada corporation, Debtor. In re THERMAL SYSTEMS, INC., a Utah corporation, Debtor. In re THERMAL SYSTEMS OF UTAH, INC., a Utah corporation, Debtor.

United States Bankruptcy Court, D. Utah.

August 14, 1990.


Attorney(s) appearing for the Case

David E. Leta, Jim F. Lundberg, Hansen Jones & Leta, Salt Lake City, Utah, for Creditors' Committee for Thermal Systems, Inc.

Russell S. Walker, Walker Kennedy, III, Woodbury, Jensen, Kesler & Swinton, Salt Lake City, Utah, for Official Unsecured Creditors' Consol. Oversight Committee.

Noel S. Hyde, Steven F. Allred, Nielsen & Senior, Anna W. Drake, Allen Nelson Hardy & Evans, Salt Lake City, Utah, for TS Industries, Inc.

Douglas M. Monson, Enid Greene, Ray Quinney & Nebeker, Salt Lake City, Utah, for Fornco, M.V.

Weston L. Harris, Watkiss & Saperstein, Salt Lake City, Utah, for Bridgestone/Firestone, Inc.

Gale K. Francis, Tax & Business Div., Salt Lake City, Utah, for Utah State Tax Com'n.

Cynthia L. Futter, Milbank, Tweed, Hadley & McCloy, Los Angeles, Cal., for Credit Suisse.

Lon A. Jenkins, Leboeuf, Lamb, Leiby & MaCrae, Salt Lake City, Utah, for IBJ Schroder Bank & Trust Co.

John C. Loring, Chicago, Ill., for Prescott Ball & Turben, Inc.

Cheryl Howard Beals, Arvada, Colo., pro se.

James D. Porter, Won-Door Corp., Salt Lake City, Utah, for Won-Door Corp. and the Jay Smart Family.


MEMORANDUM OPINION

GLEN E. CLARK, Chief Judge.

The matter presently before the court is a motion by TS Industries, Inc. ("TS"), seeking approval of its rejection of a contract ("Motion to Reject") which is commonly referred to by the parties as the "FORNCO Agreement." A hearing was held on June 25, 1990. Noel S. Hyde, Esq. and Steven F. Allred, Esq. appeared on behalf of TS. Anna W. Drake, Esq. appeared as special counsel to TS. Cynthia L. Futter, Esq. appeared...

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