In Re Yellow Limousine Service, Inc.

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue presented herein is whether we should grant the debtor’s application to reject a collective bargaining agreement between it and the union representing its employees. We conclude that after balancing the equities, the debtor’s application should be granted.

The facts of this case are as follows: 1 On February 27, 1981, Yellow Limousine Service, Inc. (“the debtor”) filed a petition for a reorganization under chapter 11 of the Bankruptcy Code (“the Code”) and, shortly thereafter, filed an application to reject an executory contract with its…