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Mootness Creditors

Jones Day

Business Restructuring Review Vol. 23 No. 3 | May-June 2024

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In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more

Jones Day

Fifth Circuit: Recent U.S. Supreme Court Ruling Did Not Alter Mootness Requirements for Unstayed Bankruptcy Sale Orders

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Section 363(m) of the Bankruptcy Code offers powerful protection for good-faith purchasers in bankruptcy sales because it limits appellate review of an approved sale, irrespective of the legal merits of the appeal....more

Jones Day

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

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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

Jones Day

U.S. Supreme Court: Creditors May Immediately Appeal Denials of Automatic-Stay Relief

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The Situation. In Ritzen Group, Inc. v. Jackson Masonry, LLC, the U.S. Supreme Court considered whether bankruptcy court orders conclusively denying relief from the Bankruptcy Code's automatic stay are immediately appealable....more

Dechert LLP

The U.S. Supreme Court Holds that Orders Granting or Denying Lift Stay Motions are Final

Dechert LLP on

The consequences of an order or judgement being final or interlocutory are enormous. An order from an interlocutory order requires leave since these orders are not appealable as of right. In addition, a failure to obtain...more

Kramer Levin Naftalis & Frankel LLP

Delaware Bankruptcy Court Dismisses Committee’s Complaint Challenging Portion of Credit Bid

Recently, in Official Comm. of Unsecured Creditors v. Victory Park Capital Advisors, LLC (In re Katy Indus., Inc.), Case No. 17-50937 (Bankr. D. Del. July 6, 2018), the Bankruptcy Court for the District of Delaware dismissed...more

Kramer Levin Naftalis & Frankel LLP

Third Circuit Reinforces that Rules are Not Meant to Be Broken

The Third Circuit recently held, in Schepis v. Burtch (In re Pursuit Capital Management, LLC), No. 16-3953, 2017 WL 4783009 (3d Cir. Oct. 24, 2017), that under section 363(m) of the Bankruptcy Code, if a party does not seek a...more

Patterson Belknap Webb & Tyler LLP

Equitable Mootness: Two Recent Third Circuit Decisions

Equitable mootness is a judge-made remedy that is misnamed. Judges apply it to seek an equitable result, but mootness in the constitutional sense is absent. Article III, section 2 of the U.S. Constitution bars federal...more

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