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IN RE VICTORY MARKETS, INC.

BAP No. 97-50053.

221 B.R. 298 (1998)

In re VICTORY MARKETS, INC., Debtor. CHARTER ASSET CORP. and Benderson Development Company, Inc., Creditors-Appellants, v. VICTORY MARKETS, INC. and Estate of William Morris, Creditor-Appellee.

United States Bankruptcy Appellate Panel of the Second Circuit.

Decided June 9, 1998.

Attorney(s) appearing for the Case

Margaret Cangilos-Ruiz, Whiteman, Osterman & Hanna, Albany, NY, for Creditors-Appellants.

Robert K. Weiler, Green & Seifter, P.C., Syracuse, NY, for Creditor-Appellee.

Before LIFLAND, Chief Judge, and KRECHEVSKY and BUCKI, Bankruptcy Judges.

OPINION

BUCKI, Bankruptcy Judge.

BACKGROUND AND ARGUMENTS

Charter Asset Corp. and Benderson Development Company, Inc. ("Charter/Benderson"), have appealed an order of Chief Bankruptcy Judge Stephen D. Gerling, which declared that the debtor had rejected the lease of a store in the New Hartford Shopping Center. Although the parties have framed the issue in terms of the binding effect and application of an Order confirming a Chapter 11 plan...

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