Enterprise Energy Corp. v. United States

OPINION OF THE COURT

SCIRICA, Circuit Judge.

In this bankruptcy matter, we must decide whether certain terms in a class action settlement agreement constitute an executory contract under 11 U.S.C. § 365 (1988). The Internal Revenue Service contended the settlement agreement was not an executory contract. Both the bankruptcy court and the district court1 agreed with the IRS, and the class members appealed. We will affirm.

I

The facts are undisputed. Columbia Gas System, Incorporated, its subsidiary, Columbia Gas Transmission Corporation (TCO), and their affiliates comprise a natural gas system…