In re Gil West, Inc.

MEMORANDUM OPINION AND DECISION

This matter is before the court upon the application of Dennis M. Hauser, the court-appointed Trustee in the above-entitled bankruptcy proceedings (Trustee), for an order authorizing the sale of the assets of the Debtor and an order authorizing assumption and' sale of executory contracts. The application was filed on November 30, 1981. Paragraph 2 of the prayer in this application contains the language which is the subject matter of the present controversy. Paragraph 2 states:

On December 14, 1981, upon notice to the creditors of the Debtor, a hearing was held on the application of the Trustee. At that time, Eleanor Burton and Jackelean D. Monroe as Trustees of the Testamentary Trust Established under the Last Will and Testament of J. N. Burton, Deceased (the Burtons), objected to the release of Robert L. Gillett and Billie L. Gillett (the Gilletts) from their joint and several personal guarantees of performance under the Burton lease.

On that date, the court granted the relief requested by the Trustee, save and except for the release of the Gilletts from their personal guarantees. As to that matter, the court took the matter under advisement…