Originally Posted by
winglet
Mesa submitted a motion today for authorization to assume the amended Delta code-share agreement.
On a case-by-case basis, bankruptcy code allows for the assumption (affirmation and acceptance) or rejection (termination and surrender) of executory contracts prior to submission of a reorganization plan . This move makes it possible to force the issue out of the distict court into an assumption, rejection or settlement of the contract.
See:
Section 365 of the Bankruptcy Code
winglet
So from my understanding of this, Mesa is trying to figure out whether Delta plans to keep, cancel or modify its contract so they can take that into account in their reorganization plan?