United American Financial Corp. v. Knoxville Properties, Inc. (In Re United American Financial Corp.)

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

I

Plaintiff United American Financial Corporation seeks judgment against the defendant Knoxville Properties, Inc. for damages resulting from the breach of a lease of an aircraft. At issue is whether the court will permit an accelerated recovery in full of all rental payments under the lease less the proceeds of the sale of the aircraft or whether the court will reduce the deficiency to a sum equivalent to the present cash value of the accelerated rental payments less the proceeds of sale.

On February 1, 1981, the plaintiff and the defendant entered into…