Category Archives: Bankruptcy Sales

Bankruptcy Sales

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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Exclusivity and Tenant Mix: The Case of the Missing Shopping Center

In re Toys “R” Us Prop. Co. I, LLC, 598 B.R. 233 (Bankr. E.D. Va. 2019) – The debtor proposed to assume and assign a lease to a discount grocer. The landlord objected based on the fact that a discount grocery … Continue reading

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Bankruptcy Sales and Mortgage Boo-Boos: Timing Can Make All the Difference in the World

Trinity 83 Dev., LLC v. Colfin Midwest Funding, LLC, 917 F.3d 599 (7th Cir. 2019) – A Chapter 11 debtor sought to avoid the cancellation of a mortgage satisfaction as a fraudulent conveyance, contending that the mortgage satisfaction extinguished the debt … Continue reading

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Joint Property Sales: To Successfully Oppose a Sale, You Have to Make Your Case

Desmond v. Francis (In re Francis), 597 B.R. 195 (Bankr. D. Mass. 2019) – A chapter 7 trustee commenced an adversary proceeding seeking authority to sell property that the debtor co-owned with his wife as tenants by the entirety free of … Continue reading

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Reopening a Case: Who Can Upset the Apple Cart?

Plant Materials, LLC v. Alliance Consulting Group, LLC, 596 B.R. 851 (S.D. Miss. 2019) – A contractor that installed a sand screen at a drying facility previously owned by the debtor that was sold “free and clear” in its bankruptcy filed … Continue reading

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Appeals of “Sale” Orders: Sometimes They Are Moot and Sometimes They Are Not

Fenicle v. Energy Future Holdings Corp. (In re Energy Future Holding Corp.), 596 B.R. 473 (D. Del. 2019) – Parties representing “Unmanifested Asbestos Claims” sought to appeal a bankruptcy court order confirming a plan of reorganization that included a sale of … Continue reading

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