In re Kirkland Knightsbridge LLC
Feb
09
2007
Ruling
Debtor granted authority to conduct private sales of wine delivered from winery pursuant to bottling agreement.
Procedural posture
Defendant chapter 11 debtor filed a motion for authority to conduct "Article 9" private sales of wine, the collateral asset. Plaintiff winery objected.
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Court
:
- 11 U.S.C.
In re Oglesby
Dec
06
2006
Ruling
Debtor's remainder interest in real property which merged with life interest postpetition was a fee simple interest fully subject to sale by trustee.
Procedural posture
A chapter 7 trustee filed a petition to sell certain real property of a debtor's estate under 11 U.S.C. § 363(b)(1) and to employ a professional to conduct the auction of the property.
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Court
:
In re Smith
Oct
06
2006
Ruling
Objection to trustee's motion to sell assets overruled where objector's alleged prior agreement with trustee could not have been entered into absent court approval.
Procedural posture
The chapter 7 trustee filed a motion for authority to sell assets free and clear of liens by sealed bid. Prior to filing the instant motion for authority to sell, the trustee filed a previous motion and a potential buyer submitted an offer. The potential buyer objected to the instant motion alleging that he and the trustee had an agreement to sell the property with the only contingency being court approval of the sale.
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Court
:
In re CRI Inc.
Sep
13
2006
Ruling
Trustee's motion to sell assets free and clear of liens granted over objection of debtor's attorneys.
Procedural posture
The chapter 7 trustee filed a motion to sell assets free and clear of liens, encumbrances and other interests. The trustee proposed to sell the debtor's interest in a wholly-owned subsidiary, including its title to real estate.
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Court
:
In re Reese
Jul
11
2006
Ruling
Debtor's motion to accept executory contracts for sale of properties free of liens and over wife's objections since sales were fair and reasonable and in best interests of estate and creditors.
Procedural posture
Movant debtor filed a motion for authority to accept executory contracts for the sale of real and personal property and to sell real and personal property free and clear of liens pursuant to 11 U.S.C. § 363(b), a motion to approve an agreed order for the use of cash collateral, and a motion for authority to obtain secured credit under 11. U.S.C. § 364(b)(1). Respondent wife objected to the first two motions.
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Court
:
In re Brooklyn Hosp. Ctr.
May
04
2006
Ruling
Motion to authorize implementation of a key employee retention plan ("KERP") was granted since the consideration received in exchange for the KERP payments served an important corporate interest.
Procedural posture
Chapter 11 debtor, a hospital and its affiliates, moved for an order, pursuant to 11 U.S.C. §§ 105(a) and 363(b), approving and authorizing the implementation of a key employee retention plan ("KERP") for the purpose of retaining key employees of the debtor. Two parties, the state nurses'association and the trustee, objected to the approval of the KERP.
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Court
:
In re HHG Corp.
May
02
2006
Ruling
Motion to set aside sale order was denied since opportunity to object to order was waived and, thus, order had res judicata effect.
Procedural posture
The bankruptcy court had previously approved a sale of the debtor's assets which included a library of video footage of a professional wrestling event. More than two years after entry of the sale order, movants alleged that they had an interest in the library of video footage and filed a motion to set aside the sale order.
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Court
:
In re Dunlap
Apr
28
2006
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.
Procedural posture
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.
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Court
:
In re Claywell
Apr
05
2006
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.
Procedural posture
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.
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Court
:
In re Nobex Corp.
Jan
19
2006
Ruling
Sale-related incentive pay met Code requirements.
Procedural posture
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.
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Court
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