Appeals, Chapter 11, Sale of Assets

Business Restructuring Review Vol. 24, No. 4 | July–August 2025

Jones Day on 7/24/2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once...more

Purdue Prohibition of Nonconsensual Third-Party Chapter 11 Plan Releases Does Not Apply to Bankruptcy Asset Sales

Jones Day on 7/23/2025

The U.S. Supreme Court's 2024 ruling in the Purdue Pharma bankruptcy cases generally prohibiting nonconsensual releases of non-debtors in chapter 11 plans sent shockwaves through the restructuring community. With one fell...more

Disappointed Bidder in Bankruptcy Asset Sales Waived Argument that Buyers Did Not Act in Good Faith by First Raising It on Appeal

Jones Day on 5/23/2025

The finality of asset sales in bankruptcy is an indispensable feature of U.S. bankruptcy law designed to maximize the value of a bankruptcy estate as expeditiously as possible for the benefit of all stakeholders. To promote...more

Distressed Company M&A in the Time of COVID-19: Benefits and Risks of Section 363 Sales

Seyfarth Shaw LLP on 4/29/2020

The COVID-19 pandemic and the drastic measures taken in an effort to mitigate its adverse impact have sent shock waves throughout the US and global financial systems. ...more

Seventh Circuit: Section 363(m) Does Not Moot but Instead Provides a Defense to an Appeal of an Unstayed Bankruptcy Asset Sale...

Jones Day on 8/20/2019

In Trinity 83 Dev., LLC v. ColFin Midwest Funding, LLC, 917 F.3d 599 (7th Cir. 2019), the U.S. Court of Appeals for the Seventh Circuit held that section 363(m) of the Bankruptcy Code does not moot an appeal involving a...more

Another Ruling on Public Auctions Versus Private Sales Under Section 363

Patterson Belknap Webb & Tyler LLP on 5/6/2019

Two weeks ago, we discussed asset sales under Bankruptcy Code section 363. As that post noted, section 363 requires court approval for asset sales outside the ordinary course of business, with courts ensuring that sales...more

Third Circuit Upholds Right of Tenant to Continued Possession of Rejected Lease Premises and Reduced Rent Payable to Purchaser...

Herbert Smith Freehills Kramer on 12/7/2018

Recently, in IDEA Boardwalk, LLC v. Revel Entertainment Group, LLC; Polo North Country Club, Inc. (In re Revel AC Inc.), No. 17-3607 (3d Cir. Nov. 30, 2018), the Third Circuit held that Section 365(h) of the Bankruptcy Code...more

Lease Profit-Sharing Provision Unenforceable Condition to Assignment in Bankruptcy

Jones Day on 2/5/2018

In Antone Corp. v. Haggen Holdings, LLC (In re Haggen Holdings, LLC), 2017 WL 3730527 (D. Del. Aug. 30, 2017), the U.S. District Court for the District of Delaware considered whether, as part of a bankruptcy asset sale, a...more

Eroding the Majority Rule: Another Circuit Concludes That Lease Can Be Extinguished in Free-and-Clear Bankruptcy Sale

Jones Day on 10/4/2017

The ability of a trustee or chapter 11 debtor-in-possession ("DIP") to sell bankruptcy estate assets "free and clear" of competing interests in the property has long been recognized as one of the most important advantages of...more

Two Recent Decisions Demonstrate Continued Disagreement Over Whether Economic Value or Face Amount of Liens Is Appropriate Metric...

Jones Day on 8/15/2017

The ability of a trustee or chapter 11 debtor in possession ("DIP") to sell bankruptcy estate assets "free and clear" of liens on the property under section 363(f) of the Bankruptcy Code has long been recognized as one of the...more

First Circuit Rules that Bankruptcy Court “Retention of Jurisdiction” Provisions Not Enough to Establish Jurisdiction

Mintz - Bankruptcy & Restructuring Viewpoints on 6/16/2017

It is very common for bankruptcy court orders to provide that the court retains jurisdiction to enforce such orders. Similarly, chapter 11 confirmation orders routinely provide that the bankruptcy court retains jurisdiction...more

Sixth Circuit Rejects Per Se Rule Automatically Mooting Sale Appeals in the Absence of a Stay

Jones Day on 6/1/2017

Debtors beware: The Sixth Circuit Court of Appeals has recently expanded the ability of parties to appeal a bankruptcy court's approval of a sale of assets notwithstanding the statutory mootness rule set forth in section...more

Appeals › Chapter 11 › Sale of Assets

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