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IN RE WALNUT ASSOCIATES

Bankruptcy No. 91-15150S.

145 B.R. 489 (1992)

In re WALNUT ASSOCIATES, Debtor.

United States Bankruptcy Court, E.D. Pennsylvania.

October 1, 1992.

Attorney(s) appearing for the Case

Barry D. Kleban, Adelman Lavine Gold & Levin, G. Alexander Bochetto, Monteverde, Hemphill, Maschmeyer & Obert, Philadelphia, Pa., for debtor.

Stanley Weinberg, Saidel, Sand and Saidel, Alan J. Davis, Ballard, Spahr, Andrews & Ingersoll, Philadelphia, Pa., for respondents.

Frederic Baker, Ass't. U.S. Trustee, Philadelphia, Pa., U.S. Trustee.

OPINION

DAVID A. SCHOLL, Bankruptcy Judge.

A. INTRODUCTION

The contested matter considered herein presents an excellent vehicle to explain why this court should no longer accept the assumption implicit in several of its previous decisions, notably In re W. & L. Associates, Inc., 71 B.R. 962 (Bankr.E.D.Pa. 1987), that rejection of an executory contract necessarily voids or eliminates the underlying contract...

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