Tag Archives: sale procedures

Sale Proceeds: Better Get the Carve-Out Right the First Time

In re Stacy’s, Inc., 508 B.R. 370 (Bankr. D. S.C. 2014) – A debtor sold substantially all of its assets after negotiating with its primary secured creditor for carve-outs from the sale proceeds for administrative priority and general unsecured claims.  When … Continue reading

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Credit Bid (Round 2): What Does It Take to Show “Cause”?

In re Charles Street African Methodist Episcopal Church of Boston, 510 B.R. 453 (Bankr. D. Mass. 2014) – In connection with a proposed sale of real property, a chapter 11 debtor sought to prohibit the mortgagee from submitting a credit bid. It … Continue reading

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Credit Bid: Loan-to-Own Strikes Out

In re The Free Lance-Star Publ’g Co. of Fredericksburg, VA, 512 B.R. 798 (Bankr. E.D. Va. 2014) – After the debtors obtained court approval of bidding procedures to auction substantially all of their assets, a secured creditor sought a court … Continue reading

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Bankruptcy Sale: No Stay Pending Appeal, Then No Appeal?

Rushton v. ANR Company, Inc. (In re C.W. Mining Co.), 740 F.3d 548 (10th Cir. 2014) – After a chapter 7 trustee sold assets of the debtor in a bankruptcy sale, he sought to dismiss various pending appeals involving issues relating … Continue reading

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Upsetting a Bankruptcy Auction: Money Talks

In re Sunland, Inc., 507 B.R. 753 (Bankr. D. N.M. 2014) – After a bankruptcy auction to sell a peanut manufacturing plant concluded, but before a court hearing to approve the sale, a chapter 7 trustee received a substantially higher bid … Continue reading

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Potential Sale of Jointly Owned Property: Practicable Partition Is Somewhere Between Possible and Practical

Higgason v. Brown (In re Brown), 506 B.R. 446 (Bankr. E.D. Ky. 2014) – A chapter 7 debtor owned real estate jointly with three other people as tenants in common. The chapter 7 trustee sought court approval to sell the entire property, … Continue reading

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