Tag Archives: sale “free and clear”

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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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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