- 11 U.S.C.
Pacific Capital Bancorp N.A. v. East Airport Dev. LLC (In re East Airport Dev. LLC)
Jan
05
2011
Ruling
Bankruptcy court erred in holding that surplus sale proceeds were cash collateral that could be used by debtors.
Procedural posture
Appellant creditor challenged an order of the U.S. Bankruptcy Court for the Central District of California authorizing sale, by appellee debtor under a purported "release price agreement," of certain real estate free and clear of appellant's lien per 11 U.S.C.S. § 363(f) and the use of its cash collateral per § 363(c)(2). Issues included whether appellant in fact had "consented" to the sale within the meaning of § 363(f)(5).
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Court
:
Judge or Jurisdiction information not available