Livesey Enterprises v. Smith Management, Inc. (In Re Smith Management, Inc.)

OPINION

ROBERT D. MARTIN, Bankruptcy Judge.

This case arises on an application of the named plaintiff to compel adoption or rejection of a lease. By stipulation, all issues were resolved or deferred except whether the defendant debtor has an interest in certain equipment which it held at the time of filing herein pursuant to the subject lease agreement. A trial was held on October 1, 1980. The law was ably briefed by counsel prior to the trial.

On April 4, 1978, Livesey Enterprises (Li-vesey), plaintiff, leased for ten years to Smith Management, Inc. (Smith), defendant, a business space in…