Category Archives: Bankruptcy Sales

Bankruptcy Sales

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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Free and Clear Sales: There’s This Little Thing Called Due Process

In re Olson, 563 B.R. 899 (Bankr. E.D. Wis. 2017) – After the bankruptcy case closed, a third party (CVC) sued the purchaser (ADM) of property acquired from the debtors in a bankruptcy sale claiming that it had a right … Continue reading

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Pre-confirmation Bankruptcy Sale: When Can You Hurry up and Sell?

In re MCSGlobal Inc., 562 B.R. 648 (Bankr. E.D. Va. 2017) – A chapter 11 trustee sought court approval of a sale of substantially all of the debtor’s assets prior to confirmation of a plan of reorganization. The purchase agreement … Continue reading

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Bankruptcy Sales: Buyers Are Not the Only Ones Who Should Beware

In Re Vista Marketing Group LTD., 557 B.R. 630 (Bankr. N.D. Ill. 2016) – The purchaser of property from a chapter 11 debtor was surcharged by a sanitary district for a connection fee that arose because the initial connection fee … Continue reading

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Purchase Agreements: Say What You Mean … The More Precise the Better?

JJCC Real Estate LLC v. Brooklyn Renaissance, LLC (In re Brooklyn Renaissance, LLC), 556 B.R. 68 (Bankr. N.D. N.Y. 2016) – After a proposed sale of the debtor’s real estate failed to close, the debtor declared a default and retained … Continue reading

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