In re Mundy Ranch Inc.
Dec
10
2012
Ruling
Sale of land allowed free and clear of claim that was subject to bona fide dispute.
Procedural posture
Debtor, a family-owned corporation that was established under New Mexico law, filed a petition under chapter 11 of the Bankruptcy Code and sought permission to sell 32.25 acres of land it owned in New Mexico, free and clear of all interests in the property, pursuant to 11 U.S.C.S. § 363(f). A shareholder who owned 25 percent of the stock in the corporation filed an objection.
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Court
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