Tag Archives: sale “free and clear”

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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Sales Free and Clear: Does Consent Really Mean Consent?

In re Arch Hospitality, Inc., 530 B.R. 588 (Bankr. W.D.N.Y. 2015) – A Chapter 11 debtor sought bankruptcy court approval to sell a hotel free and clear of liens in a Section 363 sale.  The issues before the court ultimately turned on … Continue reading

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Sales Free and Clear: What About Restrictive Covenants?

Heatherwood Holdings, LLC v. HGC, Inc. (In re Heatherwood Holdings, LLC), 746 F.3d 1206 (11th Cir. 2014) – A chapter 11 debtor owned property that had always been used as a golf course and club. When it requested that it be … Continue reading

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Bankruptcy Sales and Leases: “Free And Clear” May Not Be So “Free And Clear”

Dishi & Sons v. Bay Condos LLC, 510 B.R. 696 (S.D.N.Y. 2014) – In approving the sale of a Chapter 11 debtor’s assets, a bankruptcy court found that a tenant of the debtor was entitled to continue in possession of … Continue reading

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Sale “Free and Clear”: Adequate Protection of Nothing is Nothing

In re Elk Grove Village Petroleum, 510 B.R. 594 (Bankr. N.D. Ill. 2014) – After substantially all of the debtors’ assets were sold in a bankruptcy sale, a secured lender and a state tax authority made competing claims for turnover … Continue reading

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Sale Free and Clear: Permitted “Matters of Record” May Be Broader Than You Expect

In re Joan Fabrics Corp., 508 B.R. 881 (Bankr. D. Del. 2014) – The buyer of assets in a bankruptcy sale sought to enforce its asset purchase agreement against a county that was seeking to collect personal property taxes arising … Continue reading

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