In the Matter Of: United Airlines, Incorporated, Debtor. Appeal Of: National Processing Company, Llc, and National City Bank of Kentucky

EASTERBROOK, Circuit Judge.

Debtors in bankruptcy may enforce most executory contracts that predate their petitions. The Bankruptcy Code has some exceptions, however. Section 365(c)(2) (11 U.S.C. § 365(c)(2)) is one: a debtor may not assume “a contract to make a loan, or extend other debt financing or financial accommodations, to or for the benefit of the debtor, or to issue a security of the debtor”. National Processing contends that a credit card merchant agreement is a “financial accommodation” that cannot be assumed in bankruptcy. Bankruptcy Judge Wedoff rejected this position. 293 B.R.…