Midtown Dev., LLC, In re
Aug
01
2023
Ruling
Secured creditor's credit bid recognized as highest and best by the court on the creditor’sobjection on being denied the right to bid by the auction company. (Bankr. N.D. Iowa)
Issue(s)
Use, Sale, or Lease of Property; Bids by Secured Creditor.
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Court
:
Figueroa Mt. Brewing, LLC, In re
Jul
02
2021
Ruling
Debtor's motion granted to restrict creditor from credit bidding of its secured claim because"cause" existed and claim was subject to a genuine dispute. (Bankr. C.D. Cal.)
Issue(s)
Use, Sale, or Lease of Property; Bids by Secured Creditor.
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Court
:
Pixius Communs, In re
Mar
10
2020
Ruling
New, post-auction credit bid on estate assets from members of debtor was not eligible forconsideration. (Bankr. D. Kan.)
Issue(s)
Use, Sale, or Lease of Property; Bids by Secured Creditor.
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Court
:
160 Royal Palm, In re
Feb
25
2019
Ruling
Debtor's motion to limit credit bidding granted where creditor had neither a lien nor anallowed claim and was not permitted to credit bid under the explicit text of 11 U.S.C. § 363(k).(Bankr. S.D. Fla.)
Issue(s)
Use, Sale, or Lease of Property; Bids by Secured Creditor.
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Court
:
In re RML Dev. Inc.
Jul
10
2014
Ruling
Credit bid modified for cause.
Issue(s)
Whether mortgage creditor should be allowed to credit bid at § 363 sales of two apartment complexes and whether the court's prior orders regarding the sales should be amended?
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Court
:
In re Charles St. African Methodist Episcopal Church
May
14
2014
Ruling
Bank could credit bid at debtor's sale of real property securing its loan.
Issue(s)
Was debtor entitled to an order prohibiting its mortgage holder from credit bidding at its sale of property?
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Court
:
In re Free Lance-Star Publ. Co.
Apr
14
2014
Ruling
Secured creditor's credit bid limited to extent of valid perfected lien.
Issue(s)
Whether a creditor, as the holder of a secured claim, had the right, under 11 U.S.C.S. § 363(k), to credit bid its claim at a sale of the debtor's assets.
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Court
:
In re Fisker Auto. Holdings Inc.
Jan
17
2014
Ruling
Creditor's credit bid allowed in limited amount to ensure fairness in bankruptcy process.
Issue(s)
Was creditor entitled to credit bid its claim at asset sale and if so could the credit bid be limited.
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Court
:
In re Daufuskie Island Props. LLC
Nov
09
2010
Ruling
Creditor could not credit bid disputed mortgage debt.
Procedural posture
In connection with the sale of assets of the bankruptcy estate by auction, which included credit bidding, certain issues arose regarding the credit bidding. Those issues were decided at a hearing. The instant opinion memorialized the decisions. After an auction was held, the Trustee requested that the court confirm the successful bidders upon the conclusion of the auction.
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Court
:
Cohen v. KB Mezzanine Fund II LP (In re SubMicron Sys. Corp.)
Jan
06
2006
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.
Procedural posture
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.
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