Bonneville Power Admin. v. Mirant Corp. (In re Mirant Corp.)
Feb
13
2006
Ruling
Federal power marketing agency violated an automatic stay by not first seeking relief from the stay before attempting to terminate an executory contract.
Procedural posture
Defendant federal power marketing agency appealed from a judgment of the District Court For the Northern District of Texas that affirmed two bankruptcy court orders holding that the agency violated 11 U.S.C. § 362(a)'s automatic stay and denying relief from the stay. The agency argued it could terminate its executory contract with the debtor power producer under an ipso facto clause under 11 U.S.C. § 365(e)(2)(A).
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