Alfran Corp. v. Park Isles, Inc. (In re Alfran Corp.)

FINDINGS OF FACT, CONCLUSIONS OF LAW AND MEMORANDUM OPINION

ALEXANDER L. PASKAY, Chief Judge.

THIS IS an adversary proceeding instituted by Alfran Corporation (Alfran), the Debtor involved in the above-captioned pre-Code arrangement proceeding. The complaint seeks a declaratory relief, specifically a determination that a certain lease originally entered into by Albert F. Zaceo and Park Isles, Inc. (Park Isles), the defendant involved in this adversary proceeding, is valid and is in full force and effect. Park Isles denied the continued validity of the lease and also filed a counterclaim in…