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Summarizing by Shane Ramsey

Cardenas v. Madison Realty Capital LP

D.C. Docket Nos. 1:12-cv-20150-KAM; 10-20941-AJC (No. 12-16142)
The Court of Appeals for the Eleventh Circuit affirmed the ruling entered by the bankruptcy court and affirmed on appeal by the District Court for the Souther District of Florida which held that Buyer who acquired substantially all of Debtor's assets through a 363 Sale acquired Debtor's pre-petition law suit against Wal-Mart.
Procedural context:
The bankruptcy court ruled in favor of Buyer. Debtor appealed. The District Court for the Southern District of Florida affirmed the bankruptcy court's ruling. Debtor appealed to the Eleventh Circuit Court of Appeals.
Buyer bought substantially all of Debtor's assets through a 363 Sale. Buyer argues the purchased assets included a pre-petition law suit brought by Debtor against Wal-Mart. Debtor's majority shareholder argued that the Wal-Mart lawsuit was part of the sale order.
Hull and Martin, Circuit Judges; Bowen, District Judge

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