Case Summary:
Trustee's motion for turnover of property of the estate pursuant to 11 U.S.C. § 542(b) against bank which had issued letter of credit in favor of debtor is denied.  Agreement between debtor and bank called for bank to fund the unfunded portion of a promissory note upon fulfillment of certain conditions precedent by the debtor.  Although agreement is found to constitute an executory contract pursuant to 11 U.S.C. § 365, it is not assumable by the trustee due to the exception contained in 11 U.S.C. § 365(c)(2) -- the agreement constitutes "[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."

Statue/Rule References:
11 U.S.C. § 365 -- Executory Contracts
11 U.S.C. § 542 -- Turnover of Property

Key Terms:
Executory Contracts
Turn Over of Property