Category Archives: Bankruptcy Sales

Bankruptcy Sales

Selling Real Estate Free and Clear: The Trustee Does Not Always Win

Belfance v. Shelton (In re Shelton), 593 B.R. 755 (Bankr. N.D. Ohio 2018) – A chapter 7 trustee sought a determination of rights in connection with seeking authority to sell property free and clear of other interests using its power of … Continue reading

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Sales Free and Clear: The Devil Is in the Details

In re Bridge Assoc. of Soho, Inc., 589 B.R. 512 (Bankr. E.D. N.Y. 2018) – The debtor filed a motion to sell a residential loft building free and clear of possessory rights of the occupants. The bankruptcy court determined that the … Continue reading

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Liquor License Sales: Who Gets the Money?

In re Aqua Pesca, LLC, 588 B.R. 241 (Bankr. D. Alaska 2018) – A chapter 7 trustee sought bankruptcy court authorization to distribute proceeds from the sale of a liquor license. The trustee proposed to distribute proceeds pro rata to creditors … Continue reading

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Bankruptcy Sales: A “Free and Clear” Sale Does Not Necessarily Mean That the Buyer Goes Scot-Free

In re Gawker Media LLC, 581 B.R. 754 (Bankr. S.D.N.Y. 2017) – A purchaser of substantially all of the debtors’ assets sought to enforce the “free and clear” language in the bankruptcy court sales order by asking the bankruptcy court to … Continue reading

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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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