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IN RE CONTINENTAL AIRLINES, INC.

Bankruptcy Nos. 90-932 through 90-984, Civ. A. No. 91-58.

125 B.R. 399 (1991)

In re CONTINENTAL AIRLINES, INC. et al., Debtors.

United States District Court, D. Delaware.

March 26, 1991.

Attorney(s) appearing for the Case

Zack Clement, Houston, Tex., William Johnston, Young, Conaway, Stargatt & Taylor, Wilmington, Del., for debtors.

Allen M. Terrell, Jr., Thomas L. Ambro, Richards, Layton & Finger, Wilmington, Del., for Equilease Associates Ltd. Partnership, et al.

Arthur G. Connolly, Henry S. Gallagher, Jr., Connolly, Bove, Lodge & Hutz, Wilmington, Del., Steven H. Reisberg, Willkie Farr & Gallagher, New York City, for Whirlpool Financial Corp.

OPINION

GAWTHROP, District Judge.1

This is a consolidated appeal2 from a bench opinion issued by the Honorable Helen S. Balick, Judge of the United States Bankruptcy Court for the District of Delaware, on January 30, 1991, in which Judge Balick ruled that creditors leasing aircraft equipment by "sale-leaseback" transactions are not entitled to rights under § 1110 of the bankruptcy code.

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