Banc One Capital Partners v. Addison Airport of Texas, Inc. (In Re H.B. Leasing Co.)

MEMORANDUM OPINION AND ORDER

PAUL N. BROWN, District Judge.

This is an appeal from the Bankruptcy Court’s decision in an adversary proceeding that Appellant, Banc One Capital Partners, had no valid interest in two ground leases at Addison Airport in the city of Addison, Texas.

Factual Background

The facts underlying this case are undisputed. As such, neither party has challenged the Bankruptcy Court’s Findings of Fact.

On April 19, 1978, Addison Airport of Texas, Inc. (“AATI”), the City of Addison, Texas (“City”), and Avcor, Inc. (“Avcor”) executed a ground lease covering non-residential real…