Johnson v. Fairco Corp.

MEMORANDUM OPINION AND ORDER

ASPEN, District Judge:

This case is before us on an appeal from the bankruptcy court by Ronald Johnson, a minority shareholder of the debtor-in-possession, Fairco Corporation (“Fairco”). Johnson seeks the reversal of the bankruptcy court’s orders denying his motion for relief from the automatic stay provisions of the bankruptcy code and allowing Fairco’s motion to reject a stock redemption agreement as an executory contract. For the reasons stated below, we affirm.

Fairco filed a Chapter 11 petition for reorganization with the bankruptcy court on October 9, 1984. On…