Tag Archives: sale procedures

Bankruptcy Sales: No Stay, No Appeal (Except Issue of Good Faith Purchaser)

Lynch v. Vaccaro, 566 B.R. 290 (E.D.N.Y. 2017) – Both the debtor and the ultimate purchaser appealed bankruptcy orders relating to auction of the debtor’s property by a state court receiver. The district court emphatically dismissed the appeals as moot … 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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Pre-confirmation Bankruptcy Sale: When Can You Hurry up and Sell?

In re MCSGlobal Inc., 562 B.R. 648 (Bankr. E.D. Va. 2017) – A chapter 11 trustee sought court approval of a sale of substantially all of the debtor’s assets prior to confirmation of a plan of reorganization. The purchase agreement … Continue reading

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Purchase Agreements: Say What You Mean … The More Precise the Better?

JJCC Real Estate LLC v. Brooklyn Renaissance, LLC (In re Brooklyn Renaissance, LLC), 556 B.R. 68 (Bankr. N.D. N.Y. 2016) – After a proposed sale of the debtor’s real estate failed to close, the debtor declared a default and retained … 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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Chapter 11 Bankruptcy Sale: So Who Needs a Plan of Reorganization Anyway?

In re Tempnology, LLC, 542 B.R. 50 (Bankr. D. N.H.) – After lining up a stalking horse bidder and holding on auction, a chapter 11 debtor sought court approval of a sale of substantially all of its assets prior to … Continue reading

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Postpetition Sale: What Happens If the Debtor Won’t Perform (Not Much)?

In Re Engels, 536 B.R. 529 (Bankr. N.D. N.Y. 2015) – Postpetition a chapter 13 debtor signed an asset purchase agreement to sell certain real estate subject to court approval. However, the debtor never sought approval – not even after … Continue reading

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