Phoenix Exploration, Inc. v. Yaquinto (In re Murexco Petroleum, Inc.)

MEMORANDUM OPINION AND ORDER

SANDERS, Chief Judge.

Before the Court are the Brief of Appellants, filed April 27,1993; the Brief of Appel-lee, filed May 12, 1993; and the Reply Brief of Appellants, filed May 24, 1993.

I. Background

Appellants Phoenix Exploration, Inc., Phoenix Operating Company, and Renown Petroleum, Inc. (“Phoenix” or the “Phoenix Group”) appeal from the February 18, 1993 Findings of Fact and Conclusions of Law and Order on the Motion of Debtor to Reject Executory Contract (“Order”) filed by the bankruptcy court. This Order construed a letter agreement and an Asset Purchase…