§ 363

Stern v. Molano (In re Devanzo)

Chapter 7 trustee brought an adversary proceeding against defendant co- owner, seeking to sell a debtor's interest in real property free and clear of the co-owner's interest pursuant to 11 U.S.C.S. §§ 541, 542, and 363(h) and to thereafter determine the co-owner's distributive interest in the sale proceeds.
Ruling: 
Trustee's sale of estate property approved where benefit to estate outweighed detriment to co- owner.
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Consumer case opionion summary, case decided on May 03,2010, LexisNexis #0810-044

In re Premier Concrete LLC

A debtor filed a motion to sell its unencumbered vehicles outside the ordinary course of business pursuant to 11 U.S.C.S. § 363(b)(1) to pay postpetition wages and postpetition professional fees prior to conversion of the case from chapter 11 to chapter 7. The debtor's largest creditor objected to the sale.
Ruling: 
Chapter 11 debtor's motion to sell encumbered vehicles prior to conversion to chapter 7 denied.
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Commercial case opionion summary, case decided on May 03,2010, LexisNexis #0710-112

In re Six Forks LHDH LLC

Before the court was debtor's motion for turnover of funds and to assume a prepetition lease. A bank, holder of a deed of trust on the property, objected to the relief requested.
Ruling: 
Assumption of lease denied as not in best interests of debtor.
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Commercial case opionion summary, case decided on April 28,2010, LexisNexis #0710-111

Morris v. Kasparek (In re Kasparek)

A bankruptcy debtor's father purchased real property which was farmed by a sharecropper, and the father titled the property in the names of appellees, the father, the debtor, and the debtor's brother, as joint tenants for estate planning purposes. Appellant bankruptcy trustee appealed the order of the U.S. Bankruptcy Court for the District of Kansas which denied the trustee's complaint to sell the jointly owned property.
Ruling: 
Bankruptcy court erred in denying sale of debtor's interest in jointly owned property absent express or implied trust.
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Consumer case opionion summary, case decided on April 05,2010, LexisNexis #0610-044

In re Miell

A chapter 7 trustee filed a motion pursuant to 11 U.S.C.S. § 363(b) for authority to sell real estate free and clear of all liens and encumbrances. A creditor objected to the proposed sale, asserting that the purchasers were paying less than fair market value and that the trustee had to assume the executory contracts and pay the full balance remaining due.
Ruling: 
Trustee's motion to sell real property free and clear granted subject to vendor's lien attaching to proceeds.
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Consumer case opionion summary, case decided on March 29,2010, LexisNexis #0610-112

In re Reserve Golf Club of Pawleys Island LLC

A chapter 11 debtor in possession filed a motion for an order authorizing the sale of assets free and clear of certain liens, claims, encumbrances, and other interests pursuant to 11 U.S.C.S. § 363 and authorizing the assumption and assignment of certain executory contracts pursuant to 11 U.S.C.S. § 365. An official committee of unsecured creditors (committee) objected.
Ruling: 
Sale of golf club owned by debtor approved given consent of two-thirds of members as required by membership plan.
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Commercial case opionion summary, case decided on March 23,2010, LexisNexis #0810-005

In re Warren

The debtor scheduled as an asset a bad faith claim against his insurer. The trustee proposed selling the bad faith claim to the insurer pursuant to 11 U.S.C.S. § 363. Creditors objected.
Ruling: 
Trustee could sell debtor's bad faith cause of action to insurer.
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Consumer case opionion summary, case decided on March 22,2010, LexisNexis #0610-080

In re Osyka Corp.

Debtors sold substantially all of their assets to a purchaser and assigned oil, gas, and mineral leases to the purchaser, and the debtors represented at the sale hearing that the sale and assignment were subject to the rights of a holder of an overriding royalty interest (ORI) in the leases. The holder moved for an order directing the purchaser to comply with its duties to the holder.
Ruling: 
Purchaser of debtor's assets bound by terms of sale subject to rights of overriding royalty interest holder.
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Commercial case opionion summary, case decided on March 18,2010, LexisNexis #0610-081

In re Adams

A chapter 7 trustee filed a motion under 11 U.S.C.S. § 363(b) for leave to sell the estate's interest in a limited liability company (LLC). The debtors objected to the motion.
Ruling: 
Debtor whose liabilities exceeded assets lacked standing to object to sale of interest in LLC.
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Consumer case opionion summary, case decided on March 12,2010, LexisNexis #0510-044

In re Miell

This matter came before the court on the Trustee's Motion to Sell Real Estate Free And Clear of Liens and Encumbrances. The Trustee moved to sell the portfolio of real property which was collateral for mortgages held by a bank. The chapter 7 debtor objected.
Ruling: 
Trustee's motion to sell real estate free and clear granted.
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Consumer case opionion summary, case decided on March 10,2010, LexisNexis #0510-043

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