Commercial Bankruptcy, 363 Sales, Appeals

Non-consensual releases in Boy Scouts chapter 11 plan survive despite Purdue Pharma ruling

A&O Shearman on 7/14/2025

The Supreme Court’s landmark 2024 Purdue Pharma decision altered the landscape for bankruptcy releases and, in the process, put the resolutions of several other pending mass tort chapter 11 cases in question. A recent...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

SCOTUS Removes a Partial Barrier to Challenging Unstayed Bankruptcy Sales to Good-Faith Purchasers

Dorsey & Whitney LLP on 6/28/2023

In MOAC Mall Holdings LLC v. Transform Holdco LLC, 134 S.Ct. 927, 937 (2023), the U.S. Supreme Court recently resolved a debate that has long divided Circuit Courts throughout the U.S: whether section 363(m) of the Bankruptcy...more

The Eleventh Circuit Revisits the Doctrine of Statutory Mootness in Bankruptcy Sales

Jones Day on 1/28/2022

The finality of sales of assets 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....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

Fifth Circuit Doubles Down on Statutory Mootness Approach to Bankruptcy Sales

Jones Day on 3/5/2019

In Tanguy v. West (In re Davis), 2018 WL 4232063 (5th Cir. Sept. 5, 2018), the U.S. Court of Appeals for the Fifth Circuit revisited the circumstances under which section 363(m) of the Bankruptcy Code moots an appeal of a...more

Client Alert: Dumbing Down Intellectual Property: Chapter 11 Impact on IP License Agreements

Shumaker, Loop & Kendrick, LLP on 4/3/2018

Innovation and creativity are essential for competitive advantage and success in a global economy. The attendant intellectual property assets are the product of substantial capital investment, and companies should carefully...more

Double Whammy: In a Sweeping New Opinion, the Ninth Circuit Creates a New Mechanism for Completely Wiping Out Unexpired Leases in...

Sheppard Mullin Richter & Hampton LLP on 10/6/2017

In In re Spanish Peaks Holdings II, LLC, Case No. 15-35572 (9th Cir. Sept. 12, 2017), the Ninth Circuit Court of Appeals held that a bankruptcy trustee may use Section 363(f) of the Bankruptcy Code to sell real property free...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

Second Circuit Affirms Bankruptcy Court’s Nullification of Chapter 15 Debtor’s Sale of Claim Due to Woefully Inadequate Price

Jones Day on 8/16/2017

In the March/April 2013 edition of the Business Restructuring Review, we reported on an opinion by the U.S. Bankruptcy Court for the Southern District of New York concluding that a chapter 15 debtor’s sale of claims against...more

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