Category Archives: Bankruptcy Sales

Bankruptcy Sales

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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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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