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Joseph David Bradley, Ch. 12, BK13-41138-TLS (Aug. 21, 2013)

The bankruptcy court deferred a motion to assume a lease with purchase option and motion to sell free and clear of liens, finding that permissive abstention was appropriate because the validity of the purported pre-petition termination of the agreement was the subject of pending state-court litigation. The state court could determine whether the agreement was properly terminated and the amount of damages, if any, owed to either party.

Wednesday, August 21, 2013