Tag Archives: sale procedures

Bankruptcy Sale Appeal: You Better Obtain a Stay Pending Appeal or You May Be Out of Luck

Mission Product Holdings, Inc. v. Old Cold LLC (In re Old Cold LLC), 879 F.3d 376 (1st Cir. 2018) – A chapter 11 debtor sold substantially all of its assets to the successful bidder at an auction. The bankruptcy court order … Continue reading

Posted in Bankruptcy Sales | Tagged | Leave a comment

Chapter 13 Debtors: Do Not Take It For Granted That a Chapter 13 Debtor Can Exercise Trustee Powers

Andrade v. Essenfeld (In re Andrade), 570 B.R. 121 (Bankr. D. Mass. 2017) – The debtor owned real estate with her brother and sister as tenants-in-common. After she filed bankruptcy, she sought authority to sell both her interests and the interests … Continue reading

Posted in Real Estate | Tagged , | Leave a comment

Sale Appeals: No Stay, No Appeal – Or Maybe Not

Brown v. Ellmann (In re Brown), 851 F.3d 619 (6th Cir. 2017) – After a chapter 7 trustee sold mortgaged residential property that had been surrendered by the debtor, the debtor claimed an exemption in the sale proceeds based on … Continue reading

Posted in Bankruptcy Sales | Tagged , | Leave a comment

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

Posted in Bankruptcy Sales | Tagged , | Leave a comment

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

Posted in Bankruptcy Sales | Tagged , | Leave a comment

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

Posted in Bankruptcy Sales | Tagged , | Leave a comment

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

Posted in Bankruptcy Sales | Tagged | Leave a comment