Category Archives: Bankruptcy Sales

Bankruptcy Sales

Upsetting a Bankruptcy Auction: Money Talks

Posted on May 30, 2014 by BankruptcyRealEstateInsights

In re Sunland, Inc., 507 B.R. 753 (Bankr. D. N.M. 2014) – After a bankruptcy auction to sell a peanut manufacturing plant concluded, but before a court hearing to approve the sale, a chapter 7 trustee received a substantially higher bid … Continue reading →

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Bankruptcy Sales: “Free And Clear” Meets Tax Injunction Act

Posted on May 23, 2014 by BankruptcyRealEstateInsights

In re Old Carco LLC, 505 B.R. 151, (Bankr. S.D.N.Y. 2014) – A bankruptcy purchaser filed a motion with the bankruptcy court to prevent state tax authorities from using the debtor’s experience rating to determine purchaser’s unemployment insurance tax rate. … Continue reading →

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Bankruptcy Sales: Sometimes the Mortgagee Wins

Posted on March 4, 2014 by BankruptcyRealEstateInsights

In re CPJFK, LLC, 496 B.R. 290 (Bankr. E.D.N.Y. 2011) – A chapter 11 trustee sought court approval of a Section 363 sale of the debtor’s hotel to its secured creditor for a credit bid of ~$13.8 million.  The debtor raised … Continue reading →

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Bankruptcy Sales: Acquiring Related Contracts (Whether the Debtor Cooperates or Not)

Posted on February 28, 2014 by BankruptcyRealEstateInsights

Popgrip, LLC v. Brown’s Chicken & Pasta, Inc. (In re Brown’s Chicken & Pasta, Inc.), 503 B.R. 86 (Bankr. N.D. Ill. 2013) – A debtor who was a restaurant franchisor sold substantially all of its assets in a bankruptcy auction.  The … Continue reading →

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Bankruptcy Sales: “Free and Clear” – Round 2

Posted on February 25, 2014 by BankruptcyRealEstateInsights

In re Christ Hospital, 502 B.R. 158 (Bankr. D. N.J. 2013) – The buyer of a chapter 11 debtor’s assets sought to enforce a bankruptcy court order approving the sale “free and clear” of interests:  it asked the bankruptcy court to enjoin … Continue reading →

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Bankruptcy Sales: “Free and Clear”… Or Not

Posted on February 21, 2014 by BankruptcyRealEstateInsights

In re Hassen Imports P’ship, 502 B.R. 851 (C.D. Cal. 2013) – A chapter 7 trustee sought to sell real estate “free and clear” of certain prepetition contracts and covenants between the debtor and a city, as successor of a redevelopment agency.  … Continue reading →

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