United States of America, Department of the Air Force v. Carolina Parachute Corporation

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• once plan was confirmed, Government was free to terminate assumed contract for reasons other than prepetition default
• a debtor assumes an executory contract cum onere; a debtor may not assume the favorable aspects of a contract and reject the unfavorable aspects of the same contract
• “If state law grants more procedural rights than the Constitution would otherwise require, a state’s failure to abide by that law is not a federal due process issue.”
• “[A] debtor may not assume the favorable aspects of a contract . . . and reject the unfavorable aspects of the same contract.” (citation omitted and alteration in original)
• the automatic stay is lifted upon plan confirmation

Source: CourtListener parenthetical corpus (CC0).