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IN RE GATEWAY ACCESS SOLUTIONS, INC.

No. 5-07-50051RNO.

368 B.R. 428 (2007)

In re GATEWAY ACCESS SOLUTIONS, INC., Debtor. Gateway Access Solutions, Inc., Movant, v. Andrew C. Nester, Benjamin C. Steele, David F. Wiesner and Anchor Bay Corp., Respondents.

United States Bankruptcy Court, M.D. Pennsylvania.

May 17, 2007.

Attorney(s) appearing for the Case

Sheils Law Associates, P.C., Jill M. Spott, Sheils Law Associates, P.C., Clarks Summit, PA, Pat Lundvall, McDonald Carano Wilson LLP, Reno, NV, for Debtor.

William E. Kelleher, Jr., Cohen and Grigsby, PC, Pittsburgh, PA, for Anchor Bay Corporation.

OPINION1

ROBERT N. OPEL, II, Bankruptcy Judge.

This is a small business Chapter 11 wherein the Debtor moved under 11 U.S.C. § 365 to reject a contract to sell certain FCC licenses to Pegasus Broadband Communications "LLC (hereinafter the "Pegasus Contract").2 The Respondents objected to the rejection of the Pegasus Contract on two grounds: first, that rejecting the contract was not within...

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