Black v. Shor, et al. (In the Matter of BNP Petroleum Corp., et al)
- Summarized by Craig Geno , Law Offices of Craig M Geno, PLLC
- 9 years 11 months ago
- Citation:
- Fifth Circuit;No. 15-40294
- Tag(s):
-
- Ruling:
- The Fifth Circuit affirmed the lower courts' rulings in finding that a purchaser of estate assets was a good faith purchaser and entitled to the benefits of 363(m) based upon the Trustee's efforts during the sale process an din evaluating competing offers.
- Procedural context:
- Appeal from the district court.
- Facts:
- Bankruptcy Trustee entered into a settlement agreement and, as apart of that agreement, sold assets (including litigation claims) pursuant to 11USC363. A disgruntled litigant (who also had made an offer for some of the assets being sold) appealed-without obtaining a stay. The appellant alleged the purchaser was not a good faith purchaser and thus not entitled to the benefits of Section 363(m).
- Judge(s):
- Benavides, Dennis and Southwick
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