§ 363

In re Dunlap

A chapter 7 matter came before the court on the Notice of Trustee's Intent to Sell Property of the Estate to the Debtor, and the Notice of Objection filed by a creditor.
Ruling: 
Creditor's objection to trustee's proposed sale of vehicle was overruled since trustee properly noticed sale and creditor did not have valid security interest.
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Hower v. Molding Sys. Engg Corp.

Appellant creditor appealed from the District Court for the Southern District of Illinois which denied his motion to stay the sale of appellee debtor's assets in a bankruptcy proceeding because the sale had already taken place.
Ruling: 
Creditor was denied motion to stay sale of debtor's assets since the sale had already occurred and creditor had not obtained a stay of the sale prior to the sale.
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Hazelbaker v. Hope Gas Inc. (In re Rare Earth Minerals)

Appellant creditor appealed from the District Court for the Northern District of West Virginia challenging the bankruptcy court's authorization of the assumption and sale of an oil and gas lease.
Ruling: 
Court affirmed dismissal of creditor's appeal since section 363(m) curtails appellate courts'power to undo the authorized sale of estate assets to a good faith purchaser unless the sale has been stayed pending appeal, and creditor failed to obtain such a
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In re Claywell

Petitioner trustee filed a notice of intent to sell a debtor's real property at private sale, pursuant to 11 U.S.C. § 363. Respondent adjacent landowner objected to the notice.
Ruling: 
Court held that trustee could not sell debtor's real property at private sale under section 363 until issues regarding the property's ownership were resolved.
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Estate of Centennial Communs. v. Longtain (In re Centennial Communs.)

Appellant debtor sought review of a decision of the bankruptcy court that denied its motion for reconsideration of an earlier order that allowed a creditor's claim for a super- priority administrative expense and allowed the creditor to share in a pro rata distribution for the remainder of her claim, which included a loan to the debtor or its officers.
Ruling: 
Court affirmed an order that allowed a creditor's claim for a super-priority administrative expense since the amounts the creditor advanced were shown to be for the estate's benefit.
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In re Southwest Fla. Heart Group P.A.

In a chapter 11 case, before the court was trustee's motion to assume lease agreement and lease agreement addendum involving an unexpired non-residential lease entered into by debtor and creditor.
Ruling: 
Motion to assume lease was denied since creditor had ownership interest and trustee could not sell property free and clear of that interest.
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In re FLYi Inc.

The debtors filed a motion for the court to approve the sale of a portion of the debtors' assets, located at an airport, to the purchaser. The sale included the transfer of a use agreement and premises lease at the airport and related equipment. The court issued findings of fact and conclusions of law on the sale motion.
Ruling: 
Court granted the debtor's motion to approve the sale of certain assets and assign a lease to the purchaser since the sale was in the best interests of all.
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In re Rudnick

The debtor's former wife moved for a stay pending appeal of the court's order allowing the employment a real estate broker to sell certain real property which she and the debtor co-owned. The former wife made an initial offer to purchase the property. The broker then found a third- party who submitted a higher offer. The former wife wanted to match the offer, but did not want to pay the broker's commission if her offer were accepted.
Ruling: 
Court denied a stay of an order allowing for the hiring of a real estate broker to sell property co-owned by the debtor and the debtor's former wife since requiring the wife to pay a commission to purchase the debtor's interest in the property did not materially harm the wife.
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In re Nobex Corp.

A bankruptcy debtor in possession, a development stage biopharmaceuticals company, sought to preserve its assets while pursuing a sale of substantially all of its assets pursuant to an orderly sale process. The debtor moved for authorization to pay sale-related incentives to senior management officials.
Ruling: 
Sale-related incentive pay met Code requirements.
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Cohen v. KB Mezzanine Fund II LP (In re SubMicron Sys. Corp.)

A creditors' committee in a bankruptcy case brought an adversary proceeding against appellee lenders challenging a sale under 11 U.S.C. § 363(b) of debtors' assets; appellant plan administrator was substituted for the committee. The district court withdrew the reference to the bankruptcy court and approved the sale. The administrator appealed.
Ruling: 
Asset sale approval was affirmed since the bankruptcy court did not err in characterizing the lenders'financing as debt rather than equity and since the lenders were allowed to credit bid the full face value of their claims against the debtor's estate.
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