Category Archives: Bankruptcy Sales

Bankruptcy Sales

Chapter 7 Sale: Debtor Out of Luck Unless Property Is Abandoned

In re Mejia, 576 B.R. 464 (Bankr. S.D.N.Y. 2017) – A chapter 7 debtor sought bankruptcy court approval to sell property in a section 363 sale. The trustee filed an untimely objection on the grounds that a chapter 7 debtor must … Continue reading

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Bankruptcy Sale Appeal: You Better Obtain a Stay Pending Appeal or You May Be Out of Luck

Mission Product Holdings, Inc. v. Old Cold LLC (In re Old Cold LLC), 879 F.3d 376 (1st Cir. 2018) – A chapter 11 debtor sold substantially all of its assets to the successful bidder at an auction. The bankruptcy court order … Continue reading

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Abandonment: What Does It Take to Show Substantial Value?

Gill v. Kirresh (In re Gill), 574 B.R. 709 (9th Cir. BAP 2017) – A debtor moved to compel a chapter 7 trustee to abandon residential property on the basis that it was of inconsequential value to the bankruptcy estate. The … Continue reading

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Sale Free and Clear of Lease: The Battle Between Section 363 and Section 365

Pinnacle Restaurant at Big Sky, LLC v. CH SP Acquisitions, LLC (In re Spanish Peaks Holdings II, LLC), 862 F.3d 1148 (9th Cir 2017) – The buyer of substantially all of the debtor’s real and personal property moved for an … Continue reading

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Sale Appeals: No Stay, No Appeal – Or Maybe Not

Brown v. Ellmann (In re Brown), 851 F.3d 619 (6th Cir. 2017) – After a chapter 7 trustee sold mortgaged residential property that had been surrendered by the debtor, the debtor claimed an exemption in the sale proceeds based on … Continue reading

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Post-Confirmation Bankruptcy Sale Matters: Will the Bankruptcy Court Be Willing and Able to Referee?

Emerald Capital Advisors v. Karma Automotive LLC (In re FAH Liquidating Corp.), 567 B.R. 464 (Bankr. D. Del. 2017) – The trustee of a liquidating trust established under a plan of reorganization brought an action against a purchaser to enforce the … Continue reading

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Bankruptcy Sales: No Stay, No Appeal (Except Issue of Good Faith Purchaser)

Lynch v. Vaccaro, 566 B.R. 290 (E.D.N.Y. 2017) – Both the debtor and the ultimate purchaser appealed bankruptcy orders relating to auction of the debtor’s property by a state court receiver. The district court emphatically dismissed the appeals as moot … Continue reading

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