United States Third Circuit

In an appeal arising out of a bankruptcy involving grocery wholesalers and retailers in the Oklahoma marketplace, denial of a motion for assumption and assignment of an executory contract in favor of Albertson's is affirmed where a term relating to the use of a specific facility was "material and economically significant" to the contract, and appellant's undisputed inability to fulfill the term prevented the assumption and assignment of that contract under section 365(f) of the Bankruptcy Code.

Appellate Information

• Decided 08/22/2007
• Published 08/22/2007

Judges

• Before:  FISHER, CHAGARES, Circuit Judges, and BUCKWALTER, Senior District Judge.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Mark T. Benedict, Esq. (Argued), Leonard L. Wagner, Esq., Eric J. Howe, Esq., Husch & Eppenberger, LLC, Kansas City, MO, Selinda A. Melnik, Esq., Denise Kraft, Esq., Edwards Angell Palmer & Dodge, LLP, Wilmington, DE, Counsel for Appellants.


• For Appellees:
  
• Richard A. Chesley, Esq. (Argued), Paul, Hastings, Janofsky & Walker LLP, Chicago, IL, Daniel B. Prieto, Esq., Michelle L. Dama, Esq., Jones Day, Chicago, IL, Daniel J. DeFranceschi, Esq., Kimberly D. Newmarch, Esq., Richards, Layton & Finger, Wilmington, DE, Counsel for Appellee.