In re CB Holding Corp.

At an initial sale hearing, a landlord asserted that it had a right of first refusal to buy a liquor license for $100,000. The court ordered that it be sold at auction, but reserved the landlord's right to argue a right of first refusal. After the auction, the landlord was the successful bidder (at $407,500), and the court approved the sale. Subsequently, the landlord pressed its argument that it was entitled to the license for $100,000.