Cohoes Industrial Terminal, Inc. v. Latham Sparrowbush Associates

MEMORANDUM DECISION

GOETTEL, District Judge.

The debtor moves for leave to appeal to the District Court from an interlocutory order of Bankruptcy Judge Howard Schwartzberg, entered March 3, 1987, dismissing a complete defense of res judicata interposed to the claim of a creditor, La-tham Sparrowbush Associates (“LSA”).

LSA was the landlord of an apartment complex known as Sparrowbush Apartments. The debtor was the lessee and, in turn, subleased the apartments to the various tenants. The lease had an option providing that the owner, LSA, could recover the leasehold by paying $350,000 to the…