Tag Archives: sale “free and clear”

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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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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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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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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Bankruptcy Sales: Consider All of the Facts

In re Moreno, 554 B.R. 504 (Bankr. D. N.M. 2016) – A chapter 7 trustee sought authority to sell real property in which the debtor had an interest as a tenant in common. Although the sale was to a relative … Continue reading

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Bankruptcy Sales: “Free and Clear” Is Not Necessarily a Free Pass

Encanto Restaurants, Inc. v. Luis S Aquino Vidal (In Re Cousins Int’l. Food Corp.), 553 B.R. 197 (Bankr. D. Puerto Rico 2016)) – A Chapter 11 debtor sold two restaurants under a bankruptcy sale order that provided that the sale … Continue reading

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Bankruptcy Sales: Free and Clear Could Be Clearer

In re Love, 553 B.R. 54 (Bankr. D. S.C. 2016) – Chapter 13 debtors filed a motion seeking authority to sell 5 acres of real property free and clear of a mortgage covering the property. The mortgagee objected.

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