Category Archives: Bankruptcy Sales

Bankruptcy Sales

Credit Bids: Buyer Beware

Emerald Capital Advisors v. Victory Park Capital Advisors, LLC (In re KII Liquidating, Inc.) 607 B.R. 398 (D. Del. 2019) – A chapter 11 unsecured creditors’ committee sought to recharacterize or equitably subordinate and to avoid claims for advances made … Continue reading

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Easements and Sales “Free and Clear”: Oops – All Gone

Port of Corpus Christi Auth. v. Sherwin Alumina Co., L.L.C. (In re Sherwin Alumina Co., L.L.C.), 932 F.2d 404 (5th Cir. 2019) – A state port authority (1) challenged sale of property free and clear of its road easement on Eleventh … Continue reading

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Chapter 7 Sales: The Debtor May Be Pretty Much Irrelevant

Pasley v. Keats (In re Pasley), 603 B.R. 6 (6th Cir. BAP 2019) – A chapter 7 trustee sought to sell real estate owned by the debtor’s limited liability company (LLC). When the bankruptcy court entered an order approving the sale … Continue reading

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Sale Orders: What Constitutes a Collateral Attack?

Fulmer v. Fifth Third Equipment Finance Co., 931 F.3d 730 (8th Cir. 2019) – A chapter 7 trustee sued more than 20 defendants alleging more than a dozen causes of action based on an allegation that a higher price could have … Continue reading

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Bankruptcy Sale: Maximizing Bankruptcy Estate Assets Trumps Contractual Obligations

Gluckstadt Holdings, L.L.C. v. VCR I, L.L.C. (In re VCR I, L.L.C.), 922 F.3d 323 (5th Cir. 2019) – The bankruptcy court granted a Chapter 7 trustee’s motion to approve holding a public auction and selling property of the debtor free … Continue reading

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Bankruptcy Sales: Highest Is Not Always Best

In re 160 Royal Palm, LLC, 600 B.R. 119 (S.D. Fla. 2019) – A bankruptcy court granted the debtor’s motion to withdraw a public auction sale procedure that it had already approved and to instead to approve a private sale of … Continue reading

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