Hujazi v. Schoenmann (In re the Zuercher Trust of 1999)
- Summarized by Laura Coordes , Arizona State University, Sandra Day O'Connor College of Law
- 9 years 2 months ago
- Case Type:
- Business
- Case Status:
- Affirmed
- Citation:
- NC-15-1174-KuBS (9th Circuit, Mar 22,2017) Not Published
- Tag(s):
-
- Ruling:
- Bankruptcy court's order approving the sale of two apartment buildings and finding that purchaser was a good faith purchaser within the meaning of § 363(m) affirmed.
- Procedural context:
- Appeal from the bankruptcy court for the Northern District of California; reviewed under the clearly erroneous standard.
- Facts:
- Bankruptcy court entered an order authorizing chapter 11 trustee to sell two apartment buildings. For one of the apartment buildings, the sale order authorized the trustee to sell to a backup purchaser in the event that the sale to the initial purchaser failed to close. The sale order included a finding that both purchasers were good faith purchasers under § 363(m). The trustee ultimately sold to the backup purchaser.
In a prior appeal of the sale order, the BAP remanded the case to the bankruptcy court to address a lingering good faith issue. On remand, after a hearing, the bankruptcy court reaffirmed its prior good faith finding in light of the evidence submitted. Debtor's former principal appealed from the bankruptcy court's second good faith finding.
- Judge(s):
- Kurtz, Brand, Spraker
ABI Membership is required to access the full summary. Please Sign In using your ABI Member credentials. Not a Member yet? Join ABI now - it is absolutely worth it!
